Creative Real Estate Investing

Real Estate Tip: Your Business Rating

2011-10-28T09:39:00.000-05:00

Whatever your opinion is on the BBB; never underestimate your rating and how it will affect your potential client’s decision on whether to do business with you or not. Moral of the story, always check your online rating for your business: Check out what I mean by Clicking Here

To your success,

James Gage

What Should Real Estate Investors and Taxi Cab Drivers Have in Common?

2011-07-09T11:18:00.000-05:00

By James Gage

Before I get all sorts of e-mails questioning my sanity, please give me a moment to explain what real estate investors and taxi cab drivers should have in common. When I lived in England in the early 1980s while serving in the Air Force, I had the opportunity to strike up a friendship with a local cab driver. What I learned from him has served me well not only in real estate investing, but in investing in general. He picked me up from base one day and brought me down to the local village where I was having lunch at the local pub with some of my friends. When I arrived at my destination I paid for my fare and exited the cab, and by the time I turned around to say thank you – he was gone!

I really didn’t think much of it, in fact I pretty much forgot about it until the following week when I needed to go over to the next village. I called the local cab company and requested a ride. When the cab arrived and to my amazement the same cab driver that I had a week prior showed up to take me on my trek! As I entered the cab and settled in for the ride, I struck up a conversation with the cabbie and politely asked why he was in such a hurry during my last trip? He said that he was the top producing cab driver for the last 3 years running for his company and his goal was to retire in the next 5 years! He further explained that he would be able to retire because he mad 4 times what the other cab drivers made on a weekly basis. I asked him why he was making so much more then his colleagues on a regular basis; what he said is something I have applied to my investing plan ever since that day in the cab- he said…. “It’s all in the meter drop”!

I asked him to further explain, he said that while other cab drivers would sit outside different sites of the Air Force base turning down small fares and waiting for those big money fares to London 75 miles away, he would take those multiple small fares over and over again. When it came to the end of the day he would make 4 times what the “big fare” guys would make, because he was willing to drop the meter for the smaller fares. So what does this have to do with real estate investing? It has a lot to do with it actually! Over my 25 years of investing I have seen many investors walk away from transactions because there was not enough money in the deal for them – is that crazy or what? I tell those types of investors to send me all their “scrapes”; I’ll do them all day long. Why I’m I bringing this up today? I’m I trying to flaunt my success in a challenging economy? No, rather I am trying to encourage people to adopt the philosophy that has served me well over the years. Mainly, stop looking for the big hit and focus on what I call “kibble and bits” strategy!

Why would you sign on the dotted line for hundreds of thousands of dollars on a property in a down market, without any guarantee of being able to sell the property for a profit? Why not do Assignments where there is no risk in the event you can’t get rid of the property? Would you be happy making 3-7 thousand dollars for just assigning your contract over to someone and then move onto the next transaction? Let’s be very conservative here; could you do 2 of these type of transactions per month? If so, that would be 6K on the low side and 14K or more at the top for only a few hours, rather then multiple hours on a traditional transaction with no guarantee of a good pay day. Does this sound good to you? Well, that’s what assignments can do for you; in fact many investors do this in order to raise seed money for their other RE transactions.

If this makes sense to you and you would like to read more about how assignments can get you to the “Hip National Bank” in record time, click on the link provided below now…

http://bit.ly/kqNQkF

January Home Sales

2011-02-23T18:43:00.000-05:00

Hello All:

January home sales are in! Guess what? According to all the media outlets 37% of all sales were foreclosures!! It seems that investors are swooping in and buying up investment property. Is this a good idea? I am often asked that, and to be honest there is no generic answer! It depends on a lot of factors and what geographical area you reside. I would say a good rule of thumb would be if you can get an investment property and make $500.00 or more positive cash flow each month after paying your obligations - pull the trigger.

Some would say they would be happy with $200.oo positive cash flow per month, I say, that would replace 1 hot water heater after installation - get my drift. That's why I love lease options; all the benefits of ownership, without owning the property - it's about control.

Until next time be well.

James Gage

Real Estate Investing: Happy Thanksgiving !

2010-11-25T12:00:00.000-05:00

Happy Thanksgiving!

I love this Holiday and whether you celebrate Thanksgiving or not
I wanted you know that I am grateful for you, for your
friendship, loyalty and business.
Whatever your tradition, whatever favorite foods you enjoy,
whomever you spend the day with--I wish you a Happy Thanksgiving,
with plenty of time for reflecting, sharing with others, and
enjoying the day.

Truly, you are the best!

Be well.

James Gage

Breaking Real Estate News: Foreclosures

2010-11-15T18:38:00.000-05:00

Hello All:

James Gage here with breaking real estate investing news; it seems Florida has put foreclosures on the fast track!According to CNN, Duval County (which is Jacksonville) has hired retired Judges to push foreclosures along at record speed. It seems Duval County along with others state wide are getting rid of the foreclosure backlog by having these hired Judges rule on Foreclosures from filing to sale at an average of 2 minutes per case! The average Judge will hear and render a decision on a whopping 35 or more cases a day.

Sounds to me like there will be a lot of challenges going on at the Florida Supreme Court level to these retired Judges verdicts. Is it me or does anyone else think that the bank and or mortgage companies have something to do with this process? I understand the frustration on both sides of the coin, but I was always taught if you are going to do something make sure you do it right the first time, and it seems to me that 2 minute hearings don't fit the bill.

As for us real estate investors, this means it's time to brush up on our REO strategies.

Until next time be well and to your success.

James Gage

PS: For more great tips and strategies click here to join our FREE Newsletter.

Real Estate Investing News: Robert Kiyosaki

2010-10-19T15:07:00.000-05:00

Robert Kiyosaki said today on the Alex Jones Radio Show, that if you owe more then your home is worth you should walk away from your mortgage, even if you can make the payments!!!!! He further stated that this is what the financial elite do and that's why they have the money they have; if it doesn't perform dump it!!!! What great financial advice - huh!!!!

That will fix the housing market mess won't it Robert????

For sound real estate advice click here for my Free Newsletter.

Be well and let's make things great again.

James Gage

Real Estate Investing Tip: Lease Options

2010-10-15T09:02:00.000-05:00

Unfortunately, the current economic situation has made it challenging to buy houses with traditional methods; why not look into Lease Options, AKA Rent to Own?
Click Here to find out !

and in the words of Forrest Gump: "That's all I have to say about that...."

James Gage

www.JGage.com

Breaking Real Estate News: Foreclosures

2010-10-02T09:33:00.000-05:00

Hello All:

According to CNBC on Friday, another banking giant has placed a hold on foreclosures in 23 states! Who is that giant? JP Morgan! As in the other banking institutions, this does not mean they will not do any short sales, rather they will be very selective and turn around times might be a little longer then normal. This is where your negotiating skills come in - you have to be at the top of your game with every submission.

To learn how you can take your negotiating skills and turn them into seed money for your real estate transactions please visit: www.NegotiatingForALiving.com

Be well and happy investing.

James Gage
www.JGage.com

Breaking Real Estate News: Condo Sales

2010-09-28T11:16:00.000-05:00

Breaking Real Estate News: Condo sales down 23% from last year, according to CNBC ! Don't be troubled though; there are always opportunities in every market - you just need to know where to look ! Where do you look?

For more up to the minute real estate investing news, sign up for our Free Newsletter by Clicking Here

Be well.

James Gage

Foreclosure News: GMAC

2010-09-25T09:14:00.000-05:00

Hello All:

GMAC announced today that they are halting all foreclosures and issuing a hold on selling all REO (Real Estate Owned) properties! What doe this mean? It means that they have finally seen the light!!! They have figured out that the more foreclosed properties they flood into the market for sale, the less money they will make on these properties because of market saturation. Is this a good move on their part? I say No!

My logic is this, a little bit of something, is better then a whole lot of nothing. What I mean to say is, that what are you going to do with these properties, hold them for the next 25 years, waiting for the housing market to improve? The way I see it the housing market will not rebound until unemployment retracts, government clues us in on the tax structure after January 2011, and we start supporting and encouraging small businesses to flourish.

So, in conclusion, I would say that short sales are still possible with GMAC you just have to be at the top of your Negotiating game.

For more information and tips on leveraged real estate investing and negotiating for profit, please visit our website and sign up for our Free newsletter: Click Here

Until next time - be well.

James Gage

www.JGage.com

Breaking Real Estate News: Foreclosures

2010-09-16T10:08:00.002-05:00

According to CNBC Foreclosures last month were the highest since the housing crisis began! What does that mean? It simply means that home values will take another hit to the downside and housing inventory will sky rocket, forcing those who are trying to sell their homes to either drop their asking price, stay put, attempt to rent it out or get foreclosed upon if they can not make the payments.

Is there any good news? Yes of course for those of us who are leveraged investors, and use the power of Lease Options and Assignment Strategies.

For a Free Subscription to my Leveraged Real Estate Investing Newsletter click here

Until next time be well.

James Gage

Real Estate Investing : August 2010 Article of the Month

2010-08-30T15:33:00.000-05:00

How to Prevent Wasting Your Valuable Time As A Real Estate Investor

No matter where you are on the financial ladder or your position in society, we all have something in common, and that is, we all have 24 hours to utilize in a day. With that in mind how many times have you found yourself chasing your real estate investing tail? How much time have you invested in deals that go no where but down the drain?

This is what I suggest you do before you even attempt to look at a property. A few weeks ago I sent you a link to a video I did on how to do a mini-title search, which shows you what kind of liens, judgments and or encumbrances are on the property, so you may figure those factors in when evaluating a property. You can view that video at : http://www.youtube.com/watch?v=BAV0aPhPl-c

Now the question arises; what happens if your state doesn’t provide this type of data available online. Here is a way around that problem! Get 1 or 2 Realtors that you use for the viewing of investment properties and have them do the leg work for you at the courthouse; teach them what I have shown you on the video. Make sure they understand the process for gathering the data before you expend any of your valuable time looking at properties. That being said, the Realtor must do 2 things for you before you agree to meet with them and view the property: 1. verify the property is still for sale and has no other offers pending, and 2. make sure you have a list of all liens, judgments and encumbrances that appear on the property.

If you follow theses simple steps you will leverage your front end time of your real estate investing plan.

Hope this helps.

James Gage
www.JGage.com

Breaking Real Estate News

2010-08-11T10:56:00.000-05:00

Hello All:

James Gage here with Breaking Real Estate News….

Home Owners who have their homes up for sale decreased their asking prices by 25 % in the month of July 2010 according to CNBC ! What does that say about our housing market??? As I have been saying for the last year, we haven’t hit bottom yet and we should price and buy our properties accordingly.

Be well and to your success.

James Gage, www.JGage.com

Real Estate Investing: Will Pregnancy Prevent You From Getting a Loan?

2010-07-31T09:59:00.000-05:00

Hello All:

There has been a lot of talk about banks and mortgage companies denying loans to women who are pregnant or have just delivered- is this true? Face value it might look that way, but it just isn't so - let me explain.

First off this has nothing to do with pregnancy. There is nothing new here at all. We are talking about mortgage guidelines! We are in a Full Documentation World now and they, the banks and mortgage companies need to document income and employment.
Here is how Employment and Income is verified by the powers that be:

• Review pay stubs, W2's etc... If the stubs mention disability or maternity leave it is a red flag

• Call the employer: "Does Jane Doe work there?" This call is often made just before closing since guidelines require a "fresh" verification. If the borrower is on a temporary leave it WILL cause a problem.

Why? It is pretty simple, mortgage guidelines require income streams to last at least 3 years to be considered for qualifications. Maternity leaves are not permanent income, they are often only for a few months and may only be a form of short term disability.

Will a loan be denied if some one is on maternity leave? No, But the closing may be postponed until the borrower returns to work. The guideline has always required a pay stub to prove the borrower has returned to work. This is not just for Maternity leave, it could be for any form of temporary disability.

This is not a discrimination item; it is purely an income issue. It is also Mortgage Banking 101... The basics that have been in the underwriting guidelines for decades. So be careful of what you read, and the source is important as well. A lot of the uproar was from an article floating out in the media that sensationalized guidelines as if they were some new 2 headed beast, The media often takes the side of an issue that will sell things rather than inform accurately.

Now that we have that straight happy investing.

To your success,
James Gage

Real Estate Investing: How to do a Title Search before viewing a property

2010-07-10T11:35:00.000-05:00

Check out my video on " How to do a Title Search before you go to a property", find out the information you need before viewing a property: Click Here

Real Estate Investing: Happy 4th of July

2010-07-03T10:59:00.000-05:00

As we spend this 4th of July weekend with family and friends, let’s pause for a moment and think about what this Independence Day really means. As our country goes through hard times, let us remember that the sacrifices of those that have gone before us paid so we may enjoy the opportunities and freedoms which make this the best country in the world.

Happy 4th of July to you and yours, and don’t eat too much BBQ.

James Gage

Breaking Real Estate Investing News

2010-06-17T15:39:00.000-05:00

Hello All:

James Gage here with some breaking real estate investing news:

The US Government reports that according to their latest stats on loan modifications, 75% of modified home loans will re-default within 6 months after modification.

Get read for the 3rd wave of foreclosures I have been predicting for the last 8 months. Of course, this means $$$ for those of us that know how to take advantage (in a moral and ethical way of coarse) of this situation.

For more information on how you can benefit Click Here.

Be well.

James Gage

Real Estate Investing: Should You Buy Title Insurance?

2010-06-04T10:54:00.001-05:00

Hello All:

Just a quick post to answer a question I received today. The question: " Should I but title insurance both when buying and selling a property?" You should always buy title insurance on all transactions! You should never just rely on research done by the title company, they are human and can miss something and report the title clean, and when you get ready to sell something from previous owners pops up. If you don't have that insurance -YOU are on the hook! Believe me it happens; it happened to me with the first house I purchased.

So don't forget to buy that insurance, you will be glad you did.

Be well.

James Gage

www.JGage.com

Real Estate Investing: Lease Options - Find the Seller’s Sticking Point

2010-04-30T15:30:00.000-05:00

As part of my lease option training I teach my students that when you are negotiating with a seller on a lease option deal you’ll find that all sellers have a sticking point. Lease option sellers will have something that means more to them than anything else. Find out what this is so that you can structure a deal that makes them happy while simultaneously meeting your requirements for profitability.
For instance, the price of the home may be more important to some lease option sellers than when they receive it - this can allow you to structure a longer term lease option deal.
Other lease option sellers might want a very specific monthly payment to cover their mortgage nut, but their overall price is negotiable.
Work with each seller to understand what makes them tick, so that you can tailor your lease option offer to suit them best.

More tips at : www.JGage.com

Real Estate Investing: Real Estate Reminder

2010-04-27T09:07:00.000-05:00

Hello All:

Just a quick reminder for those who are trying to sell a property. The first time home buyers credit of $8,000 will end this month! So that being said all contracts must be executed by April 30, 2010, and closing must happen prior to July1, 2010.

Also, the $6,500 Move-Up / Repeat Home Buyer Tax Credit will expire on April 30, 2010 as well.

Good luck and happy investing.

James Gage

Breaking Real Estate News: Foreclosures

2010-04-15T11:31:00.000-05:00

Hello All:

I have some breaking news for you on the real estate investing front! Foreclosures for the first quarter of 2010 are up 19% according to CNBC!

You maybe asking yourself how can this be, when the stock market is rallying and breaking the 11,000 mark. Well, it’s simple! Most of the money coming in to the stock market is foreign money, looking to make a quick buck on this temporary stock market rally. Remember, also today we were told that unemployment unexpectedly increased – yeah right.

So what does that mean to you the investor? It means the 3rd wave of foreclosures I have been predicting is starting to come to pass. As always, in any cycle, there is opportunity to be found, if you just look. There will be more short sale, assignment and lease option opportunities for all of us to make a boat load of cash; if you know what you’re doing….

To learn how to benefit from this cycle, click here and sign up for my Free Newsletter.

Until next time, may all your deals be profitable.

James Gage

Real Estate Investing: Lease Option, Rent to Own

2010-03-27T09:32:00.000-05:00

Hello All:

Hope this post finds you and yours in good health. Many have asked me when I have a discounted item from my real estate investing series available to let them know...

Rumor has it my Lease Option, Rent to Own Program which retails for $495.00 is on EBay for $197.00!!! Click Here to be brought to the EBay link to find out more information.

Be well.

James Gage

Real Estate Investing: Question of The Month

2010-03-21T14:59:00.000-05:00

I just received this question in my e-mail box, so I thought I would share the question an answer with you.

James,

I’m sure you get this question a lot, but is now a good time to purchase a home?

Bob Gomez, Spokane, WA

This is what I responded back…

Hi Bob:

Thanks for the e-mail. Wow! That’s a loaded question, but I will answer it best I can.

First, only you and only you know what you can financially tolerate for a mortgage payment; but I must stress that according to my budget criteria I teach people, only a maximum of 35 % of your income should be set aside for housing! If you can not find anything that falls within those parameters, I would suggest that you consider purchasing a duplex or multi-family and live in one of the units while getting your mortgage paid for you (you will be essential living for free) and receive all the tax deductions, while saving money towards a larger down payment – which will lower your mortgage payment.

Secondly, if you are going to pull the trigger and purchase a home, I suggest you plan on staying in it for at least the next 10 years! Hopefully, that will be enough time for the housing market to give you a big chunk of equity.

Finally, there are a lot of great deals out there for individuals wanting to become homeowners – not investment property; at least not at this point in time. Let me qualify my last statement. There is always an exception to every rule, but great investment property deals are few and far in between without using leveraged investing techniques such as lease options and assignments.

I believe in the near future there will be opportunities for those of us that have cash to get great deals after the 3rd wave of foreclosures makes an appearance.

I hope this helps Bob.

Be well.

James Gage

For more great tips and strategies Click Here

Real Estate Investing: Beware of Short Sale Companies

2010-03-11T17:13:00.000-05:00

I have come across more than a few companies that claim to be “experts” in short sale negotiations, only to find that not only is the information they provide not accurate, but sometimes they are just out-and-out scams. Most are newly formed companies, with no true experts on site. Typically they’re just trying to take advantage of the current market. I know of a company in GA that tells real estate investors that they will negotiate short sales on their behalf for $1,800.00 per transaction and the investor gets to keep all the profit! Only one problem; they close less then 1% of the short sales they are given.

We are in a time where many people are desperate financially and emotionally, and there are those out there who are eager to take advantage of people in these types of situations. Granted, there are some agencies out there that are good, legitimate short sale companies but, you have to know the difference between the good and the bad.

So what is the answer? Learn how to negotiate short sales yourself! Yes, it's possible to learn to negotiate short sales, as an investor or on behalf of someone else.

If you are ready to learn how to negotiate short sales correctly please Click Here

Until next time.

James Gage

Real Estate Investing: Where to host your real estate website?

2010-03-05T17:52:00.000-05:00

Hello All:

The question always comes up when I talk to people about their real estate web sites (if you don't have one, you should, but we will leave that for another post), where do you host yours? Well, before I tell you where I host mine, I would tell you why I host mine there; then you can make up your own mind.

There are many hosting services that charge as little as $3.95 a month for hosting, but then charge you for having e-mails and increased bandwidth! I don't know about you but I don't want to be nicked and dimed every time I turn around.

Below I have listed what I believe you must have included or supported with your hosting service:

--> Up time, meaning, your website has to be guaranteed up and running on the web greater then 99% of the time. That's unfortunately what happens when you go with these sub par services.

--> Multiple e-mail accounts included

--> 24/7 Customer Service at no additional charge

--> Able to host multiple websites, if you chose, on the same account without paying for an additional account.

--> Statistics Page: You need who is coming to your site and when, so you can see how effective your marketing has been - again at no additional cost.

These are just a few of the benefits I think every hosting service should be giving their customers at no extra cost. That being said, I get the all the above and more for $7.95 per month! If you would like more information Click Here

Breaking Real Estate News: Governement to Stop Foreclosures?

2010-02-27T10:24:00.000-05:00

Hello All:

Get this, President Obama is thinking of stopping all foreclosures (except for investors of course)! What will happen is a government organization will tell the banks and mortgage companies when and if they can foreclose!!!! Does this make sense? Not only will this give the government another slice of power over the free market system, but it will cripple the housing market. The bigger question is who will pay for this? Banks and mortgage companies will close in record numbers; they will not be able to balance non performing properties.

So what is the answer? Unfortunately, we have to allow the market to correct itself! That means foreclosing on those who can not benefit from loan modifications, and assisting them into the rental market.

This is precisely why I strongly suggest that investors use leveraged invest techniques with little to no risk such as "Assignments Made Easy" Click Here for more information.

Until next time - be well.

James Gage

Breaking Real Estate News: Housing Data

2010-02-23T11:20:00.000-05:00

James Gage here, with some breaking real estate news:

December Housing Data- Standard & Poors

According to Standard and Poors: “U.S. home prices
unexpectedly slipped in December but the annual rate
of decline slowed, reinforcing the housing market's rocky
road to recovery, Standard & Poor's/Case-Shiller indexes
showed on Tuesday.”

Ok, you maybe asking yourself why does that matter?
It’s February and not December, so who cares! This is
a quarterly snap shot, rather then the monthly report’s
we are use to seeing in the news. This information gives
us glimpses of what to expect in the coming quarters, so
we can adjust our investing methods appropriately and get
an advantage over our competition.

The data did indicate that housing prices actually
Increased slightly in housing markets such as Boston.
Austin, San Francisco, while declines continued in
Florida, Las Vegas and Michigan – just to name a few.

That being said, my investing plan remains the same for
now; I have no plans to change my investing plan, which
concentrates on:

 Lease Options
 Short Sales (Kibbles and Bits)
 Probates ( Find and Assign)
 Assignments

Speaking of Assignments, don't forget that my DVD & CD
Presentation on "Assignments Made Easy" 50% off offer ends
tomorrow night at midnight and will return to its normal price of
$37.00.
If you are interested in purchasing this package, plus the
bonus guide @ $18.50 then follow the link below for more information,
and if you decide to purchase it enter promo code: 999.

http://snipurl.com/ugk22

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

I hope this information has been of use to you and your real estate
investing business plan.

To your success,

James A. Gage
www.JGage.com

Real Estate Investing: Assignments Made Easy

2010-02-22T14:24:00.000-05:00

James Gage here with Gage Consulting Group hoping that
this blog post finds you and yours in good health.

How would You like to make 3,000 – 7,000 thousand dollars
per real estate transaction, even in a down market, without
owning or financing the property? Well if you said Yes, then
continue reading below...

If you're head is still spinning from the recent changes
and trends in the real estate investing marketplace, and
you're wondering how the heck you can make any money in
this environment without a bag full of cash, then you
won't want to miss out on :

"Assignments Made Easy!"

Banks are even tougher these days with who they're lending
to and what they will finance and they're looking more and
more at your credit and how many years of experience that
you have as an investor!
What if you have less than perfect credit, don't know how to
best present your deal to the bank, want to get commercial
financing, have no substantial cash to put into a deal as a
down payment, or are confused by the new FHA and Prime loan
requirements.

This is the exact process I use in one of my investing
modules for consistent cash flow on a monthly basis.

Before I let you go to read over my exactly what this
CD contains, many individuals have called me and ask
if I would put together a step-by- step DVD & CD on
"Assignments", well your wish is my command. I have put
together a DVD & CD on that very subject please visit
the following link for more information:
http://snipurl.com/ugk22
but it doesn't stop there!

Normally priced at less then a few trips to Starbucks
at $37.00, it is a great value if I do say so myself.
But for the next 4 days (Feb 21 - Feb 24 ) I am
extending to you, my faithful newsletter subscribers
the astonishing price of only $18.50! That's a
whooping 50% off my normal website store price! Enter promo
Code 999 on you order/check out page to receive your
discount.

After Feb 24th it will return to the normal price of
$37.00.
You maybe asking, why am I doing this? Simple, I am
committed to getting this information into as many
investors hands as possible, thereby getting your
bank accounts perked up to where they should be!

So please visit the link provided for more information
on this jam packed DVD & CD package:
http://snipurl.com/ugk22

Also, as a thank you bonus I am including:
My Step by Step Assignments Made Easy Guide, which will
walk you through the process A-Z.
Don't forget promo Code 999

To your success,

James A. Gage
www.JGage.com

With this DVD & CD which is jam packed full of information
you will never have to worry about getting or
controlling a property again.

What you will learn with this powerful package :

On DVD 1 James, goes step by step on how to:
• Choose the appropriate document, for the right deal.
• Fill out each document correctly !
• Protect yourself from litigation in every deal!
• Protect the money you make on each deal, if the deal
doesn’t close!
• And much, much more…

On the CD of Forms, James provides all the contracts you will
need to do any deal, whether a straight transaction or Lease Option
assignment. Each document can be modified on your computer to suit
the structure of any deal.

And of course like all of James's products you will
receive much more.

Real Estate Investing: Breaking Foreclosure News

2010-02-18T10:05:00.000-05:00

Hello Everyone:

Finally some validation on what I have been saying over the past 4 months! If you remember, what I said was “get ready for a 3rd wave of foreclosures”. The increases in home sale prices were just “smoke and mirrors”!

This was just posted by Standard & Poor’s:

Heartened by the recent rise in home prices? Don't get too comfortable. Standard & Poor's, the credit-rating agency that tells investors what mortgage-backed securities are worth, reports that the increase was just an illusion. It predicts the nation is about to see a deluge of new foreclosures that will drive real estate values back down.

Blame the "shadow inventory" – nearly 1.8 million homes that are on the road to foreclosure but for all kinds of reasons haven't gotten there yet.

Now you might be asking yourself, since I predicted what was happening in the housing market – how did I use this information to profit as a real estate investor?
In my next post I will explain how…

James Gage

To profit from this type of information before it happens, why not sign up for my FREE Real Estate Newsletter by Clicking Here ?

Real Estate Investing: Lease Options- Making Phone Calls

2010-02-09T17:54:00.000-05:00

Lease Options: Preparing to Call Sellers In 3 Easy Steps

First you have to go through your newspapers, preferably 2 weeks old. Start with the houses for sale by owner, cross out any by Realtors (at least for now). Next go through the houses for rent. . Go online to the major FSBO sites and pull down homes in your area. Remember, with some of the changes these sites have made they provide bare bones information unless you sign up. To save time, just take down the telephone number if provided or address so you have a starting point to make contact with the owner.
Now you are ready to organize your calling. Go through the above lists; be sure you don’t have any duplications.
Check your database to be sure there are no duplications; if you don’t have a database now is the perfect time to start one.
Now you are ready to call, here are the 3 Steps :

--> Get your yellow pad and make up your headings of: telephone number, type of property, price, and notes.

--> Pull out your telephone calling script and start calling. If you get an answering machine, leave your message script for the appropriate type of property. When you get to speak to the seller, ask all of the questions in the script.

--> Remember, you want to build rapport with the seller.

In addition, by using your script you will get all your questions answered before you leave your home office to view the property. If not, you don’t leave your home office. Remember, your time, knowledge and energy are valuable commodities, you will not squander them.

Now you are on your way to making profitable deals, and it was easy as 1-2-3 !.

If you liked the information in this article about lease options, why not check out our Lease Option Home Study Package Click Here

Real Estate Investing: Lease Options

2010-02-08T18:16:00.000-05:00

Hello All:

I was asked today what is option consideration in relation to a lease option? Option consideration is the money you collect from a tenant buyer, usually 2%-5% of the agreed upon sales price, which is held outside of escrow, to secure the property. Option consideration is non-refundable and used against the remaining balance owed at closing. Many times proof of option consideration can be used when the tenant buyer decides to exercise their option and make application for financing!

For more information on lease options Click Here .

Until next time.

James Gage

Short Sales: Pre-Foreclosure News

2010-02-03T17:30:00.001-05:00

Hello All:

New federal guidelines that give lenders a 10-day limit in which to respond to purchase offers on short are in play! Sound to good to be true? Yep, it only applies to banks that have received TARP funds. Also keep in mind that if they do respond to the offer in the 10 day window, plan on a 60-90 day or longer closing date - you will still have to go through the whole process!

For more up to date real estate information as it happens go to www.JGage.com
and sign up for our Free Real Estate Investing Newsletter.

Until next time, be well.

James Gage

Breaking Real Estate News: More FHA Changes

2010-01-30T13:37:00.001-05:00

Hello Again:

In my last post I informed you about down payment changes that are coming to the FHA program. I have now received the full changes, and when you thought it couldn't get any worse - think again: Here are the additional changes...

--> Raise the upfront premium from 1.75% to as much as 3%
--> Eliminate the ability to roll in to loans that don't charge up front premium
--> Increase monthly MIP from .55%
--> Reduce seller concessions from 6% to 3%
--> Raise minimum FICO score
--> Possible LTV maximums by FICO score
--> Increase accountability of FHA Lenders for fraud ( this is good!)

James Gage

Breaking Real Estate News: FHA Changes Guidelines.

2010-01-23T13:44:00.000-05:00

Hello All:

I don't think the government can see past their own face! You would think with the housing inventory that's out there right know, that the last thing the government would do is make thinks harder for individuals to get FHA mortgages. But guess what? They have! As of Friday January 22, 2010, this is what they did in a nutshell...

-> To be able to make a down payment of just 3.5 percent on an FHA-insured loan, homebuyers would have to have a minimum FICO credit score of 580, rather than the current 500 FICO outlined in FHA guidelines. New borrowers with less than a 580 score would have to put down 10 percent on a home purchase.

Thanks Washington for making a tough environment even tougher.

James Gage

Foreclosure News

2010-01-18T11:19:00.000-05:00

Hello All:

I just got off the phone with a real estate attorney friend of mine that confirmed what I have been telling you, my faithful readers for the past 3 months! What's that you say? That the 3rd wave of foreclosures has begun to raise its ugly head. He said he can't handle the amount of individuals coming to him seeking loan modification/foreclosure help on properties that have first and second mortgages on them (AKA Prime loans). Also, individuals with home equity loans that are in default are starting to become more numerous!
Most individuals have been living off their credit cards hoping to trend water until a turnaround in the economy; but most have run out of time. My attorney friend said the average credit card debt he is seeing is between $50K - $200K; that means we will also see an uptick in bankruptcies!

If this trend continues, which I don't see any evidence it won't, we will see commercial foreclosures sky rocket! Fasten your seatbelts; this is going to be a bumpy ride…
Remember, those who can recognize trends and patterns, and act on them quickly will always make money in any economy.
Until next time be well.
James Gage

Real Estate Investing: Don't forget to apply for your Abatement !

2010-01-11T17:24:00.000-05:00

Hello All:

Don't forget to apply for your real estate abatement's before the end of the month! January is usually the month that cities and towns allow owner's of real estate to apply for a reduction/abatement of their real estate property taxes. On real estate have owned or presently own I apply every year. The procedure is simple, go or call your local tax assessors office and request an Abatement form, fill it out in detail and send it in. In about 30 - 60 days you will receive an answer on how much you were given off your tax bill.

The key to getting your request for abatement accepted is how good your reason for abatement is; you just can't say I want a reduction because...
Rather, you have to make an argument for them in order for acceptance, such as :

-> The value of your property has dropped dramatically
-> You purchased the property for less then assessed value
-> The property is not worth what the town or city has assessed
-> The property hasn't been physically assessed for greater then 3 years
-> Use category has changed or is no longer valid

and so on, you get my point.

You may also want to note that you recognize that the assessment is based on the previous year (they always are 1 year behind ), but your argument still holds true.

For more great tips and real estate strategies click here to sign up for our Free Newsletter.

Until next time -be well.

James Gage

Real Estate Investing: Why People Are Not Successful

2010-01-08T16:23:00.000-05:00

Hello Everyone:

Here we are beginning another year of real estate, so this month's real estate article will be devoted to starting off on the right foot. We will examine exactly what causes people not to be successful in real estate investing - enjoy and be well.

Why People Are Not Successful In Real Estate

By James A. Gage

Have you ever wondered why most people are not successful in Real Estate or achieve very limited results? All Real Estate techniques and strategies have a learning curve, even Lease Purchasing, AKA Rent to Own which I believe is the only way to control Real Estate. That being said, after you have grasped the strategy or the technique you want to implement - what now! The easy part was learning about the strategy, now comes the hard part which is Negotiating the deal. You can go to all the seminars, buy all the books and tapes on Real Estate investing and still fall flat on your face or come out on the short end of the stick - costing you time and money.

OK, OK if rah rah seminars, boot camps and positive thinking don’t work, what does? What's the SOLUTION?

To read the rest of this article click here

Real Estate 2010

2010-01-01T13:58:00.002-05:00

Hello All:

Well, here we are 2010! The past year was a great and profitable year for those of us who have taken our real estate investing and negotiating skills to the next level. In the coming year I will share with you, my faithful subscribers, some new strategies and tactics I'm currently using to bring in consistent cash flow in a down economy.

That being said, on behalf of myself and everyone here at Gage Consulting Group may the New Year bring you and yours many blessings and success in all your endeavors.

Happy New Year.

James A. Gage

Short Sales Can They Still Be Done Successfully?

2009-12-30T17:27:00.001-05:00

I'm asked on a regular basis, Jim, can the average investor still do Short Sales, or has that market opportunity played out? The answer is No! Let me qualify my statement. You can be successful with short sales as long as you know what you're doing... That being said, there are numerous gurus out there claiming that you can get these deals done in 30 days or less - that just isn't true!! Actually the truth is, that it may take at the very least 90 days!

So, that's why I tell my students that it is imperative that they have multiple deals in the pipe, so when one closes the next one replaces it on the profit train. Remember, not all deals close, so if you are doing these deals one at a time, you better think about getting a job at the "Golden Arches" AKA McDonalds.

For more information on how I do successful short sales click here.

Real Estate Investing Wishes

2009-12-24T11:49:00.001-05:00

On behalf of myself and everyone here at Gage Consulting Group we wish to wish you and yours a Merry Christmas and a Happy Hanukkah.

As we rest and spend time with our loved ones and families, let's get ready to make 2010 the best year yet!

Peace be with You.

Jim Gage

Creative Real Estate Investing Resources

2009-12-21T17:10:00.000-05:00

Hello All:

I know everyone, including me, is doing their last minute Christmas shopping and that's all that is in our cross hair's - but....
I would ask everyone to take a few minutes and ask yourself what 2010 will look like for you in relation to real estate investing. Will 2010 be the same as 2009 for you? Are you burned out on real estate investing clubs, real estate tele-seminars and real estate boot camps?

If you are, then you will want to sign up for my Free Newsletter, which will also get you immediate access to all my e-mails that I send my fellow investors; information that shows you step by step how I invest in real estate with 100% leveraged techniques! If your interested in making a change in 2010 click here to receive your cutting edge creative real estate information.

Until next time.

James Gage

Experts Conclude Further Deterioration of Mortgage Securities in 2010

2009-12-14T16:27:00.000-05:00

Despite signs that the U.S. economy is now on a slow path to recovery, collateral performance will continue to be weak for all U.S. structured finance sectors next year, Fitch Ratings said in its 2010 outlook report. The firm expects downgrades to continue for residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and collateralized debt obligations (CDOs), though at a slower pace than during the debilitating days of the recession.

For more breaking real estate news click here to sign up for our Free Newsletter.

Until next time be well.

James Gage

The Three Cardinal Rules of Negotiating Real Estate Transactions

2009-12-10T16:25:00.000-05:00

You can find hundreds of books on the art of real estate negotiation . . . but pardon my frankness, many of these books offer stale strategies and tactics that just do not work.

For example, in many books you can find the ABC rule – “always be closing.” That is, you want to have a bunch of deals in the works and you want to get to “yes” as quickly as possible in order to close that deal.
However, getting to “yes” ASAP means you leave out a bunch of steps in the middle, such as carefully pre-qualifying your prospect by asking lots of questions. (I call this process “Getting to ‘no’ first – meaning, you weed out those who aren’t serious about a deal).

It’s also why I’ve simplified negotiation down to three cardinal rules: the person who mentions price first loses, get to know your opponent before meeting with him or her, and always get your agreement in writing.

Negotiation Cardinal Rule #1: The person who mentions price first loses
When I first started doing lease options, I had a woman call me to see if I had a specific type of property that she could then lease to own. She had $8K put aside but unfortunately at the time, I didn’t have anything in inventory that met her requirements. A few weeks later I found a property and called her about it and said that if she liked what she saw after doing a drive by, we could do business that very day.
She ended up loving the property. We did the walk through and as she and I talked, I knew that $8K was sure money in my pocket.
“Jim,” she said. “I have a problem. Remember how I said I had $8K? The problem is I don’t have $8K.”
My heart fell clear to my stomach and my knees went soft. “Uh oh,” I thought.
She then went on to say, “I don’t have $8K, I have $10K. Is that ok?”
Now, I if had opened my big mouth and had said at the beginning of our negotiation talk, “I’ll need a check for $8K,” I would have never learned she had an additional $2K in her pocket. The moral being – never be the first person to talk about price.
Instead, ask lots of open-ended questions that will give you solid information in order to determine where people stand. For example, when I’m talking to a person who is looking for a house or a lease option, I ask questions such as, “It sounds like you’re living in a great place. Why do you want to move?” (What I’m really asking is, “Are you a deadbeat?”)
Or, if I’m sitting at someone’s kitchen table and he’s spilling his guts to me about his house going into foreclosure, I ask, “If you’re able to sell the property, what you would you be comfortable asking for it?” Having the property owner tell me first what he wants for the property is akin to him showing me his cards before he makes a bet. In other words, it gives me the advantage.

To finish the rest of the article click here

Real Estate News: Will FHA Loans Become More Expensive For Home Buyers?

2009-12-07T18:44:00.001-05:00

The problem is simple; with foreclosure rates skyrocketing, the FHA has had to pay out more and more insurance claims to the mortgage companies. Part of every FHA loan is the mortgage insurance premium (both upfront and monthly). The upfront mortgage insurance premium is paid (who would have guessed?) upfront at closing. However, it is possible to roll that premium into your financing (so many people don't actually bring that cash to the closing table).

The monthly mortgage insurance premium is a monthly fee tacked onto your your mortgage payment. Like other insurances, you're paying today, in case something goes wrong tomorrow. In the event a home buyer defaults on their loan and the house is foreclosed on, the lender gets paid out of the FHA funds that are built up through the collected of these mortgage insurance premiums.

So somebodies got to pay; guess who....

Breaking Real Estate News: Housing Data

2009-11-23T11:15:00.000-05:00

Hello Everyone:

Oct existing sales are up! However, when you break down the numbers what does it really tell us? According to CNBC : 33% of existing home sales are attributed to first time home buyers, 50% to real estate investors and the remaining 17% to normal market buying.

So what does this all mean? On face value it looks like great news, but when you put it together with last weeks news of : 10% of American home loans are either in default or 30 days or more behind! Could this be budding proof of my prediction of a 3rd wave of foreclosures on the horizon? Only time will tell...

Until next time be well.

James Gage

Breaking Real Estate News: Foreclosures

2009-11-17T10:18:00.000-05:00

Just when you thought it was just about over...

For the three months ended Sept. 30, 6.25 percent of U.S. mortgage loans were 60 or more days past due, according to credit reporting agency TransUnion. That's up 58 percent from 3.96 percent a year ago.

Real Estate Investing: Short Sale Time Lines

2009-11-12T11:44:00.000-05:00

Hello Everyone:

I was asked a question yesterday and I thought I would share it with you. I was asked:"How long do short sales take to complete?" Wow! That's a loaded question...
But the answer is at least 3 months! I know that's not what you wanted to hear, but that's the truth! Be prepared to be in it for the long haul; that's why it is so important to have multiple deals in progress. If you count on one transaction to put food on the table, you might be losing a few pounds; if you have several deals in the pipe you will have a better chance of consistent cash flow.

Remember, you should always keep the lease option strategy in the back of your mind when dealing with pre-foreclosures...

Until next time be well.

James Gage

Real Estate News: Foreclosures

2009-11-06T17:17:00.000-05:00

You can't make this stuff up :Fannie Mae program to turn homeowners into renters!

Can you believe this? So much for being a landlord! Just another job/business the government is killing. Read the full article here:

http://cn.reuters.com/article/companyNewsEng/idCNN0513498420091105

Breaking Real Estate News: 8K Tax Credit

2009-11-05T20:25:00.000-05:00

President Obama will sign an extension measure at the end of the week that will effect the housing market. The measure will also extend through April 30 a popular $8,000 first-time homebuyer tax credit, while creating a new $6,500 credit for homebuyer's who have been in their current residence for the last five years or more. The credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

Real Estate Tip: New Flooring Product

2009-10-26T13:30:00.000-05:00

Hello Everyone:

My friend Ann Belemy just sent me this E-Mail, so I thought I would pass it along to you for your review.

Be well.

James A. Gage

Update on the new product below!

One of my customers read last month's newsletter and tried the new flooring product I mentioned. He said it went down extremely easily and was great! In case you missed it, I've included the tip below. Thanks, Brandon, for the feedback!!

New product might make a landlord's life a little easier

Hey, I have no stake in this, but I saw a new product the other day that I thought looked awesome. It is similar to laminate flooring, like Pergo, but has a lot more pluses.

It's called Allure, and it is a solid vinyl, somewhat flexible flooring in planks that are oblivious to moisture, wear like iron, look much better than most laminate, and are cost effective for the longer term. The planks adhere to each other with a double faced adhesive strip that can be lifted and replaced at will. The floor can get soaked without any effect other than having to clean it or get the moisture up from under it.

So you can install it in a rental without worrying about moisture causing the seams to swell and buckle. No underlayment is needed.

I haven't tried it yet, but the flooring guy at Home Depot loves it. It is in stock at $1.79 per SF, and you score it with a utility knife and snap it when you are installing it.

Breaking Real Estate News: Foreclosures

2009-10-22T09:15:00.000-05:00

Breaking Real Estate News....

Wall Street Journal is now reporting that a 3rd wave of foreclosures are poised to flood the housing market as early as the end of the month!

As I have been saying over the last few months this 3 rd wave of foreclosures will drive housing prices down again, but in turn will open up unbelievable opportunities for creative real estate investors.

Stay tuned for more info as I mull through it...

Be well.

James Gage

Why clients don’t say YES. Real Estate Investing Tip

2009-10-20T17:02:00.000-05:00

There are only 2 reasons, other than money, why clients don’t say YES.

#1 They don’t understand the information presented.

#2 They don’t see how it benefits them.

And the only way you’re going to know is by asking questions. Becoming a powerful communicator is the number one skill you need to be successful. The best part is that this is an easy and painless way to catapult your business to the top.

You can learn how to communicate effectively with anyone, really.

To be incredibly successful, you need to realize the person who makes the most money is the best communicator. Learn the principles of communication and practice them. Perfect the principles before you worry about learning specialized techniques for your particular business.

The communication skills you need to be successful in earning money are the same skills you need to be successful in any area of your life. I can tell you for a fact that the people you’re going to be talking to don’t care if you know every little thing about your topic, they care that you care about them.

If you show that you care about who they are, and what they need, and what they want, they will be incredibly forgiving of your level of knowledge of the product, or technique or whatever you’re discussing. Right from the beginning, even if you don’t have everything all figured out, you can be very successful just by caring about the people that you’re talking to.

Real Estate News

2009-10-15T11:45:00.000-05:00

Right now on CNN, a honesty man by the name of John Adams, a real estate broker, agrees with me, that the real estate market is on "life support"! Finally, some validation on what I have been saying for the last several months from the main stream media. As I have said, the government must extend the home buying tax credit past November of this year, and even extend it to people other than first time home buyers or we will see a reversal of the halt in the declining home prices and values we are seeing across the country.

Until next time, be well.

James Gage

Foreclosures up in August

2009-10-06T13:20:00.003-05:00

Hello Again:

Breaking news again!! For those who have said that opportunity has dried up in the foreclosure investing arena - then listen up! Foreclosures nationwide for Aug 09 are up 18% over last year at this same time frame according to Realty Track! August 09 foreclosure filings 358,000 - I think there maybe some opportunity there, do you?

Be well.

James Gage

Short Sales: U.S. Treasury set to finalize home "short sales" plan

2009-10-06T12:31:00.001-05:00

Hello All:

Here is breaking news on short sales: http://news.yahoo.com/s/nm/20091002/bs_nm/us_treasury_foreclosures_plan

Be well.

James Gage

Short Sale Considerations

2009-08-31T10:00:00.000-05:00

The majority of the time this blog is devoted solely to real estate investing from an investor’s point of view, however, during this post I will address the homeowners’ position in terms of short sale considerations. That being said, a short sale is dependent on a buyer making an offer to purchase. If you do not receive an offer, you will not qualify for a short sale. So even if you meet all the other criteria, it is possible that no one will buy the short sale. It is also dependent on the lender accepting the buyer’s offer. If the lender rejects the offer, a short sale will not take place.

• Tax Consequences
• If the lender agrees to the short sale, the lender may possess the right to issue you a 1099 for the shorted difference, due to a provision in the IRS code about debt forgiveness. Many situations are exempt from debt forgiveness, according to the Mortgage Forgiveness Debt Relief Act of 2007.
• You should speak to a real estate lawyer and a tax accountant to determine the amount of short sale tax consequences, and whether you can afford to pay those taxes, if any.
• Blemished Credit Report
• A short sale will show up on your credit report. It’s a pre-foreclosure that has been redeemed. Short sales affect credit ratings. While the damage to your credit report may not seem as significantly bad as a foreclosure to you, creditors may not make the distinction. Experts say the drop in your FICO score is identical to a foreclosure reporting.

Real Estate Investing in Florida

2009-08-21T20:49:00.001-05:00

Flagler County Florida's unemployment rate rose in July to 15.9 percent, up from 15.6 percent the previous month, according to figures released today. Ouch!!!! Bet there are some great opportunities there for real estate investors . I'll let you know :-)

See you in Florida.

James Gage

Foreclosure News

2009-08-20T15:07:00.002-05:00

Hello All:

Many have called a bottom in the real estate market, while others, not as bold have stated that foreclosures are decreasing! I have to respectfully disagree on both points! Last month their were 360,000 foreclosure notices sent out, so the the third wave,the term I have coined, is on it's way and we should see the effect by fall.

So, what does this mean for us that are real estate investors? Get ready to make some tremendous profits with my "kibble and bits" strategy...

Until next time - be well.

James Gage

Real Estate Tip of The Month Aug 09

2009-08-03T12:53:00.002-05:00

I have a valuable tip for Home and Condo renters, and for individuals that do lease options.
Have a clause put into your lease and lease option contracts with the seller, which requires the Property owner to supply documentation to you monthly that proves that they paid the mortgage. By documentation I mean a copy of their mortgage statement. Also state that the Rent payment will not be made until the mortgage statement is received. If they do not agree to these terms, just move on to another landlord or lease option seller. A reputable landlord eager to rent their property will agree to this.

Note: In the case of lease options, if you feel that the seller might not make the payments; insist that you pay the bank or mortgage company on a monthly basis.

This is just a sample of the useful information you receive as a Gage Consulting Group Newsletter subscriber, why not tell others? They will thank you for it; direct them to http://www.JGage.com

Thank you in advance for your support.

Until next time, be well.

James Gage

Real Estate Tip

2009-07-29T12:09:00.003-05:00

Hello All:

Have you ever encountered a homeowner that is in pre-foreclosure and there is no way you can help them because of the numbers? Of course, we all have and as ethicial real estate investors we want to help people even if there is not a pay day in it for us.

So, that being said, I have used this non-profit organization that will help the homeowner, FREE of charge, obtain a loan modification. This organization is Springboard, which is endorsed by the Attorney General of the State of Massachusetts, Martha Coakley. They can be reached at 951-781-0114. They also provide credit counseling for FREE, which will provide a certificate, if an individual needs to file bankruptcy! Since the bankruptcy laws changed in 2005, you must have a counseling certificate before you can file a bankruptcy petition.

Until next time - be well.

James Gage

Real Estate Investing: Radio Schedule

2009-07-24T18:41:00.002-05:00

Hi all, I'll be on XM Satellite Radio tomorrow morning discussing lease options and how to use them for maximum profit. For more info follow the link - see ya in the morning: http://www.jgage.com/Real-Estate-speaking-events.htm

Be well.

James Gage

Real Estate Investing : Without Recourse

2009-07-20T11:51:00.002-05:00

Hello All:

There has been a lot of misinformation circulating through the real estate investing community about liability issues concerning assignments of contracts.

My attorney had me add these two simple words about 5 years ago, they are “without recourse”, meaning, if the party I assign the contract to defaults there can be no recourse against me.

Be well.

James Gage
www.JGage.com

Real Estate Tip of the Month- July 2009

2009-07-14T12:25:00.002-05:00

Real Estate Tip of the Month

Watch out when purchasing or lease optioning newer construction, say within the time frame of the last 5-7 years. Why? In a rush to fill demand during the housing boom, many builders cut corners and did very substandard workmanship! Now, these practices have come back to haunt home owner’s and sellers of both residential and commercial property in the form of expense repairs; in some cases repair costs surpass the current value of the property!

So what can you do as an investor or home buyer if you are debating purchasing or lease optioning a property referenced above? Make sure you get a good home inspection by a reputable company, and have an expert evaluate any areas of concern that the home inspector may note on their report. Remember, contrary to popular belief, the home inspectors job is just to give a general opinion on the shape and condition of the property, any “red flags” that he or she points out should be addressed by an expert in that particular field of concern.

You may want, if available in your geographical area, to purchase a home warranty on the property you are purchasing or lease optioning. These policies protect you, the owner, from footing the bill for major repairs or replacements of costly appliances in and on the dwelling. You can research via a search engine on the web, such as Google, and do a search under “Home Warranties”, and choose a plan that is right for your situation and budget,

Until next time – be well.

James Gage

Real Estate Investing: Lease Options

2009-07-11T08:40:00.002-05:00

Hello All:

Rumor has it, that my Lease Option Home Study Package is on EBay for $197.00 !!!! It regular retails on my website for $495.00, what a savings...

Here id the link : http://tinyurl.com/msf4ko

Be well.

James Gage

Real Estate Investing & Facebook

2009-07-08T18:30:00.000-05:00

http://www.facebook.com/home.php#/james.gage?ref=profile

I have a new fan page on Facebook. Join now. After you join, you can post pictures, ask questions of the group, and meet interesting people just like yourself!

When you go there, you will see that I have posted a lot of tips and stratergies on creative real estate investing.

And the best part is that I started posting secret discount codes there! These are codes to secret sales that are only shared with my Facebook fans.

Here is the link:
http://www.facebook.com/home.php#/james.gage?ref=profile

I'm actually online on Facebook right now. So, I'll see you there. Have an outstanding day!

Be well.
James Gage
www.JGage.com

Real Estate Tip of The Month

2009-07-06T16:47:00.002-05:00

Hello All:

Now is the time to get your properties sold! Why the hurry? The $8,000 home-buying incentive from the U.S. Government ends in December 2009, and if you are in a state that takes longer then 30 days to close - time to get those prospects!

Be well,

James Gage

Real Estate Investing: Happy Father's Day

2009-06-21T14:22:00.001-05:00

To all of you that are Fathers out there - Happy Father's Day!

I wish you a great day with your family.

Be well.

James Gage

Real Estate Investing: New Appraisal Regulations Under Fire

2009-06-06T09:36:00.001-05:00

On May 1, the responsibility for managing home appraisals has moved to a middleman, known as appraisal management companies or AMCs.

Under new federal regulations, mortgage brokers and loan officers can’t directly order appraisals. Instead, they are expected to go through third-party AMCs, which are supposed to prevent them from pressuring appraisers.
But critics of the new plan say nobody is watching the AMCs.
The new rules have transferred the improper influence problem to these appraisal management companies, which are not regulated by anybody.

The marketplace is still vulnerable to appraiser pressure because the incentives are still there to get deals done and collect the fees,”
Federal housing officials, who helped write the new laws, say they will hold AMCs accountable.

Lease Option Investing

2009-05-29T20:11:00.002-05:00

Hello All:

Don't forget to tune in tomorrow morning to hear yours truly nation wide speak about why now is a perfect time to use Lease Options in controlling investment real estate with little or no money!!!!!

Now Every Saturday Morning !

XM Satellite Radio Channel 169

"Mind Yo Business Radio Program w/ Brian Higgins"

Time : 9:45 AM, EST

Topic : " The Economy & Leveraged Real Estate Investing "

Real Estate Investing: Why The Up Tick in Foreclosures?

2009-05-28T11:50:00.002-05:00

Hello All:

You may be asking yourselves why foreclosure filings are accelerating again? The answer is simple; when President Obama took office in January of this year, most mortgages companies place a moratorium on foreclosures. What this means is that until they figured out what he was going to due about a potential rescue plan for home owners, the best course of action would be to place everything on hold.

Now that the President has revealed his plans, the moratoriums have been lifted and the foreclosures have resumed. Truth be told the President's plan hasn't really helped the majority of individuals facing foreclosures, due to the fact that it is a voluntary program for the banks and mortgage companies.
In my humble opinion if they wanted to really help people facing foreclosure they would have passed the "Cram Down Provision" which would have allowed bankruptcy Judges to decide the fate of individuals facing foreclosure.

Lease Options: Preparing to Call Sellers in 3 Easy Steps

2009-05-21T13:11:00.001-05:00

First you have to go through your newspapers, preferably 2 weeks old. Start with the houses for sale by owner, cross out any by Realtors (at least for now). Next go through the houses for rent. Go online to the major FSBO sites and pull down homes in your area. Remember, with some of the changes these sites have made they provide bare bones information unless you sign up. up.
To save time, just take down the telephone number if provided or address so you have a starting point to make contact with the owner.

Now you are ready to organize your calling. Go through the above lists, be sure you don’t have any duplications.
Check your database to be sure there are no duplications; if you don’t have a database now is the perfect time to start one.

Now you are ready to call, here are the 3 steps :

1. Get your yellow pad and make up your headings of: telephone number, type of property, price, and notes.
2. Pull out your telephone calling script and start calling. If you get an answering machine, leave your message script for the appropriate type of property. When you get to speak to the seller, ask all of the questions in the script.
3. Remember, you want to build rapport with the seller.

In addition, by using your script you will get all your questions answered before you leave your home office to view the property. If not, you don’t leave your home office. Remember, your time, knowledge and energy are valuable commodities, you will not squander them.

Now you are on your way to making profitable deals, and it was easy as 1-2-3 !

Real Estate Investing Tip: RE Radio

2009-05-08T20:31:00.001-05:00

Don't forget to tune in tomorrow morning to XM Satellite Radio, Channel 169 @ 9:45 AM, EST "Mind Yo Business Radio Program w/ Brian Higgins" I will be his guest, and we will be discussing what's happening with real estate investing across the country...

Real Estate Investing: New Appraisal Regulations

2009-05-03T12:24:00.002-05:00

New Appraisal Regulations Under Fire as of May 1, the responsibility for managing home appraisals will move to a middleman, known as appraisal management companies or AMCs.

Under new federal regulations, mortgage brokers and loan officers can’t directly order appraisals. Instead, they are expected to go through third-party AMCs, which are supposed to prevent them from pressuring appraisers.

The new rules have transferred the improper influence problem to these appraisal management companies, which are not regulated by anybody!

The marketplace is still vulnerable to appraiser pressure because the incentives are still there to get deals done and collect the fees.

Federal housing officials, who helped write the new laws, say they will hold AMCs accountable. Yea right, just like AIG, Citi, and all the others....

Real Estate Investing: March Housing Numbers

2009-04-23T10:58:00.002-05:00

Hello Everyone:

March 09 housing numbers are in! Existing home sales are down 3% over Feb 09 sales, with foreclosures up 49% over last year at this time.

Hot spots for foreclosures: Las Vegas, NV , Florida, Charlston, SC and IL; in fact 1 out of every 22 homes in Vegas are in foreclosure - scary!!!

That being said, now is a great time to get involved in lease options, it's the ultimate escape clause with control without ownership! For more information on lease options please visit : http://www.jgage.com/rent-to-own.htm

Be well,

James Gage

Real Estate Investing: Tip of The Month

2009-04-13T10:09:00.003-05:00

Hello Everyone:

Have you ever had a great real estate deal, but was unable to go through with it because it was in a flood zone & you couldn't get flood insurance? Or, you could get it through your agent, but you would have to sell one of your children?

Well, that is a thing of the past! The government has set up a program through FEMA to assist home owners and renters obtain flood insurance starting at $119.00 per year - please visit : http://www.floodsmart.gov/floodsmart for more information.

Be well,

James Gage

Real Estate Investing : Article of The Month, Real Estate Success Strategies

2009-04-08T15:11:00.003-05:00

The PMA “Secret”: It’s All in Your Execution

By James A. Gage

Do you find yourself struggling with keeping a positive mental attitude (PMA)? Does reading or watching the news make you feel like there’s no point in trying to sell or buy real estate? Did you attend a conference recently and come home all pumped up – only to feel like a deflated balloon a week later?

Yes, the standard advice for developing PMA works – i.e. read self-help books, attend conferences, have goals, etc. But, none of these tactics will work if you fail to act.

That’s why I believe the real secret to PMA is taking action – versus simply believing the universe will send you what you want. What do I mean by this? Here are my three tips for achieving action-based PMA:

1. Look for opportunities in negative data.

It’s a fact: we’re in a recession. And yes, the real estate industry has been hit – hard. You have two options: you can get very depressed and give up or you can figure out how to survive and thrive.

We live in a time when data is easily accessible and plentiful. Instead of ignoring the news, learn how to disseminate hype from fact. This means that you take “negative” data and look for trends and opportunities within it – or as I say, “go where they ain’t fishin’.” Even though 25% of people were unemployed during the Great Depression, you could still find millionaires because these people knew where to fish.

When foreclosures began to skyrocket, I didn’t look at the numbers of foreclosures only. I also noticed a huge surge in people renting because they were losing their homes and didn’t qualify for a prime loan. I remember thinking, “Woo, wait a minute. I have to change my strategy.”

I knew I could take my properties and turn them into traditional rentals and wait out the market – or I could make this negative data work for me – which lead me to really looking at my lease-to-own strategy.

I’d always done lease-to-owns but due to the rental data, I put my lease-to-own strategy on steroids – and it’s working. My first step was to place a small ad on Craigslist. Due to this ad, I received an unbelievable 150 calls! I haven’t seen the numbers I’m now seeing – ever.

2. Look for inspiration outside of the real estate industry.

If you read history, you’ll know that downward trends, no matter how severe, always pass, so it’s important to get your head out of real estate, real estate, real estate and into other sources of inspiration – not just for positive mental attitude but for a fresh perspective.

One place I find inspiration is in my children. If I don’t stay positive and proactive, they won’t have a future.

I listen to John Maxwell, a former pastor and International motivation speaker, who is very down to earth and practical. He talks about how we’re not reinventing the wheel and how the struggles we’re going through now we’ve already done. He helps me keep things in perspective.

And, I take specific theories for living and apply them in different ways. For example, I’ve transferred the concept of homostatius ( def: physiology metabolic equilibrium actively maintained by several complex biological mechanisms that operate via the autonomic nervous system), a medical term for keeping the body in balance at all times.

PMA gurus talk about not hanging around with negative people. Applying the principal of homostatius, I’ve learned that I don’t want to hang around with those people who use extreme PMA techniques.

You can find lots of real estate gurus who have what I call “real estate diabetes.” They push the ultra positive things to the hilt and when you try to follow their advice, you end up “failing,” which brings me to my third tip:

3. Set realistic and achievable goals.

It’s very easy to go to seminars and get all pumped up with a “yes, I can!” attitude. You get a huge shot of adrenaline – then five days later you crash as you realize you’re still in the same rut.

You want to think “big” and push yourself, but you also have to set milestone goals that you can realistically achieve. If you’re currently making $100K right now, setting a goal to make $1 million in 12 months is unrealistic.

Instead, set a goal to make $1 million in five years and then set milestone goals to achieve it, and keep working until you achieve your goal (while celebrating those milestones).

There is absolutely nothing wrong with trying new strategies and failing. Where many people do go wrong is trying new things, failing – and then giving up. Successful people, on the other hand, have can-do attitudes in the face of failure, and will persevere until they achieve their goals.

Keeping a positive mental attitude does begin in your head, but it’s manifested in your actions: search for opportunities where none seem to exist, look for inspiration and advice from successful people outside of the real estate industry, and set realistic goals that you can achieve. You’ll find that it’s much easier to keep a PMA every day.

Creative Real Estate Investing : Real Estate Article of The Month

2009-03-30T14:58:00.001-05:00

Here is your Free March 09 Real Estate Article of The Month. This month I will share with you the 6 steps I use with my mentoring students to get unbelievable bargains in a down real estate market.

If you find this article helpful don’t forget to pass it on to a friend or real estate investing colleague or have them visit http://www.JGage for more educational articles and tips…

6 Steps I use to help my coaching students get some of the best bargains on investment properties - even in a down market !

Study The Market Cycle: Homes in general may take longer to sell these days because of pricing, perceived seller value and a more cautious pool of buyers. But that doesn’t mean sellers are any less motivated to move on with their lives. At one time, we thought little of homes sitting on the market for 90 days or more. These days, we seek buying opportunities if a home has been on the market over 60 days-- and are seeing some heavy price discounting from our buyers if days on market goes over 90 days.

Check Tax Records and other Sources: Is there more debt on the home than what it is worth? Has a Notice of Default been filed that would indicate a looming foreclosure? If so, and if this is a home of interest for our buyer, we submit an offer contingent upon the successful negotiation of a short sale (where the lender sells the property for less than what is owed). In this case, either we or professional negotiators deal with the lender(s) to reach the best possible price for our buyer.

Did Owners Pay Cash or Have They Owned Their Home for Longer than 10 Years? These sellers may be in a position to sell at a discount or may be motivated to do so due to life transitions or other investment opportunities. They may also be open to owner-financing for all or part of the home mortgage. Become knowledgeable about installment sales and other creative financing strategies.

Are You Open to Rehab? Homes sold in as-is condition, typically REO (Real Estate Owned) properties, are more likely than others to sell at a substantial discount. Even owners, especially when the home has been on the market for some time, are often overwhelmed with the thought of remodeling and updating–and fearful that their decor choices will not suit potential buyers. In many markets, older or outdated homes are sometimes sold at land value.

Foreclosure Sales: The foreclosures are occurring even in the luxury home market. Highly leveraged homes purchased in the last few years are more frequently ending up on the courthouse steps. Foreclosure purchases, which require cash and carry no disclosures or guarantees, offer both great potential for profit–and big dangers for the uninformed. Bidding should be non-emotional and it is best to have a professional bidding for you–but only after thorough-as-possible research has been done regarding the home’s condition, its history and resale potential. Cracked slabs, structural defects and boundary line encroachments are unwelcome surprises.

Why Check Out The Realtor: If the property you want is listed, has your agent check the other real estate agent’s listing history. If that agent tends to have listings on the market for a long time, you may wish to lower your offer. On the other hand, if the agent prices properties aggressively and has short “days on market,” you may consider coming in near to, at, or over list price. You will likely find those listings already priced at or below market to attract multiple offers.

A combination of patience, perseverance and the ability to move quickly will serve all astute buyers of real estate these days, but the greatest potential of all may lie with properties whose replacement value could far exceed the purchase price--or those with great locations. Therefore, have your mode of financing in place and have your buyers lined up in your database for a quick and profitable transition.

Creative Real Estate Investing: Housing Strats Surge or Did They?

2009-03-17T15:02:00.003-05:00

Hello All:

Well, Wall Street is doing back flips on today's surprising surge in housing starts of 22.2% ! But if you look a little deeper you will find the surge is based on speculators who are building apartment building complexes; anticipating increased demand for rental units.

I'll give you my take on what that means for you and me as creative real estate investors on my next blog entry.

Be well,

James Gage

Real Estate Investing Article:Recipe for Successful Real Estate Investing

2009-03-02T18:05:00.002-05:00

Yes, I did say recipe, not a cookie cutter formula. You see in my humble opinion cookie cutters are good for one thing – making cookies! Each real estate transaction that you will do will have some things in common, however, most have different logistical and or legal considerations, which make each transaction unique.

Sense most recipes usually have one or more interpretation by the chef(s); here are my essential ingredients to a successful real estate transaction.

1. Know Your Market: This can not be stressed enough in these challenging investing times. Know what investing strategies and techniques will work for maximum profit and leverage in your geographical area.
2. Know Your Exit before you go in the Entrance: Another words, know what you will do with the property before making an offer or instituting a leveraged investing strategy such as a lease option.
3. Budget 20% Above “Fix Up Cost” Estimates : Why? Unforeseen circumstances! In contractor lingo that means “we didn’t know the walls were horse hair plaster, when we gave you the quote”. You get the idea, it’s better to over budget and pocket the overage, rather than start financially hemorrhaging because your profit margin is shrinking faster then the balance in your IRA account due to “unforeseen circumstances”.
4. Be Pro Active: Stay in the game. If you’re working with a real estate agent don’t leave it to them to handle the deal. This is especially true with short sales; most real estate agents don’t know how to facilitate a short sale, so in order to get a YES from the bank you must insert yourself into the equation. Ask questions, demand answers and know who the players are and how to contact them.
5. Have Your Buyer or Tenant In Place: Contrary to some modern day gurus who tell you to find and complete the deal, and people will magical appear to buy or occupy your property – that just doesn’t make good financial sense. Does the movie “Pacific Heights” ring any bells?
My take is to have someone waiting in the wings who is already pre-qualified and is looking for that particular property, in that particular neighborhood. This ingredient goes hand in hand with ingredient # 2 at the beginning of this article, so before you sign on the dotted line for any property make sure you have a winning investing plan in place.

There you have it my essential ingredients to a successful real estate transaction; use them and never worry again about coming out on the short end of the real estate investing stick.

To your success…

Real Estate Education Tip: Who do you listen too?

2009-02-25T15:37:00.003-05:00

One of the most important questions you have to answer for yourself as you build your real estate investing business is who are you going to listen to and learn from?

This is especially true now with so many real estate investing gurus/coaches vying for your attention and screaming “me, me, me!”

I have found that there are 3 types of “teachers & trainers” in real estate investing, and only one type is always worth following:

Type 1 - Someone who has read a book or gone to a seminar on a topic, has never successfully done it, and is now going to teach you how to do it. I recommend my RLH response here: Run Like Hell!

Type 2 - Teacher has successfully done what you want to learn, is going to teach you, but is no longer doing it. Approach with caution: while you might be able to learn some good tips and strategies, you will be learning what got them where they are, not what they are doing right now to be successful. You won’t learn leading edge new stuff.

Type 3 - Teacher has successfully done what you want to learn, is going to teach you, and continues to do what is being taught. With this kind of teacher you get it all: what got them to where they are, what they are doing now to continue to grow, and what are the new next steps and strategies to keep you moving forward.

This is the kind of teacher with whom I will spend my time and money. By the way type number 3 has been my One-on-One Mentoring philosophy for over 20 years!

My recommendation: Learn from and follow only those who have done it, are teaching it, and continue to do it in their own businesses every day.

If you agree with my philosophy why not check out my mentoring program at :

http://www.JGage.com

Creative Real Estate Investing: New Short Sale Formula

2009-02-17T19:23:00.002-05:00

I received an e-mail today from a fellow investor asking me if I had made any changes to my short sale formula I use to submit offers to banks and mortgage companies; as a matter of fact I had and now I am sharing it with you my faithful newsletter subscribes.
I hope this helps you do many successful short sales.

Be well,

James Gage

PS: Don’t forget tomorrow at midnight ends my 50% off offer on my “Probate Investing Made Easy Package” normally priced at $37.00, but yours for $18.50 when you enter promo code 555 on the check out page :

http://jgage.com/probate-investing-made-easy.htm

The “New” Making a Short Sale Counteroffer

“Crunching Numbers “

The following is excerpted from proprietary material created by James A. Gage of Gage Consulting Group, LLC, www.JGage.com
Copyright © 2009, not to be reprinted or reproduced without the consent of GCG.

Although some of your initial offers will be accepted, you must also be prepared if the lender rejects your offer. Just because your first offer is denied does not mean that the deal is dead. This is now the perfect opportunity to learn precisely what you have to do in order to close the short sale.

The first thing you will want to do before making another offer is find out from the lender exactly why the first offer was rejected. Here are several key factors that may result in your offer being rejected.

1. They will not net the required amount needed to justify accepting your short sale offer. Simply speaking, your offer was too low!
2. The lender is adamant that they can do better waiting for a better offer or foreclosing on the property.
3. They do not agree with the terms of your contract or net sheet.
4. The loan is government insured and therefore they are protected against a foreclosure.
5. The investors of the loan are asking for more money to close out the loan.
6. You tick the loss mitigations rep off so bad that the last thing they want to do is help you.
7. The hardship was not proven enough to persuade the lender to accept a short sale.
8. The lender would like to explore alternative payment options with the homeowner instead of doing a short sale.
9. Your offer was much lower than what the BPO assessed the house for. This is another example of your offer being too low.
These are just some of the reasons you may get from the lender for your short sale being rejected but the main thing to remember is that you must at least probe and find the exact reason why.

I can confidently say that the main reason your short sale offer will be rejected will be because the offer is too low. Remember, the lender’s number one priority when doing a short sale is how much money they will net.
The best way to find out how much the lender needs to net is to just ask! Once you identify the right loss mitigations rep you can simply ask:

"How much do you need to net if we agreed to a reasonable short sale offer?"
Will the lender tell you how much? That is to be determined after you ask the question. The point is that you will never find out unless you throw it out there.
Even if you don’t find out initially, the next best time to ask is prior to the counteroffer.

You want to start and maintain a constructive dialogue with the loss mitigations rep where you are constantly probing for information that will determine what your best offer will be.
When I do short sales, I mainly develop my initial offer based on how much equity or profit I want to make with each deal. However, from time to time when I’m preparing a counteroffer I use a formula to help me come up with the most accurate guess on what I think the lender is willing to accept. If used correctly, this formula alone will more than pay for the price of this course 1000 fold.
Here it is...

Step 1: I take the estimated or actual BPO amount or the value of the house, based on the comps then multiply that number by 65%.

Example:
$175,000 (Estimated BPO value) X 65% = $113,750
Step 2: I then take the number I got and multiply it by 92%

Example:
$113,750 X 92% = $104,650
If this were an actual deal, I would use this final number or something close to give me my counteroffer amount. Although I have reason to believe that the lenders use a similar formula when they determine the amount they are willing to accept on a short sale, I cannot say that this is exactly it.

I do know that this formula does two things.

1. It gives me a calculated number to use for my initial offer or counteroffer.
2. It allows me to breakdown to the lender how I came up with my offer.

Be resilient yet realistic when making your counteroffers. Understand that it may not stop with the first counteroffer. You may have to counteroffer a 3rd or 4th time just to get the amount down to where the lender feels comfortable to accept. At times it may only be hundreds of dollars that you are negotiating.

If you are game for a strategic a methodical approach to negotiating your offers you can always use my 3 step approach to getting your offer accepted.

Step 1: The first offer will be used to get the number that you and the lender are negotiating down to tens of thousands.
Step 2: The first counteroffer will be used to either close the deal or get the number that you and the lender are negotiating within thousands.
Step 3: The second counteroffer will be used to either close the deal or get the number that you and the lender are negotiating within hundreds. Usually at this point, the lender is the most flexible and the loss is obviously not as great.
Another thing to consider when determining your counteroffer is if in fact it even makes sense to offer one. Sometimes the lender is non-negotiable and will only accept what they will accept. Period!

If this is the case does it make sense to continue trying to persuade someone who is not willing to work with you? You have to make that decision on a case by case basis.
The most important thing to remember when making your counteroffer is that the deal has to make sense for you. I’ve seen investors get their short sale accepted but fail to agree to an amount that is highly profitable.

Like I mentioned, I cannot determine the value of your time and effort. That is something that you must decide, but I can say that short sales are big money deals and if you are making offers that do not put a lot of money in your pocket you are probably leaving it on the table for someone else to enjoy.

To your success,

James A. Gage
www.JGage.com

http://jgage.com/probate-investing-made-easy.htm

Creative Real Estate Investing: Go where they aint fishin...

2009-02-16T10:25:00.000-05:00

James Gage here with Gage Consulting Group hoping that this e-mail finds you and yours in good health.

One of my greatest mentors, who made a great impact on my life, was a gentleman by the name of Paul Gutierrez. Paul was an average Joe by today’s standards, hard working with limited education, but what he lacked in classroom hours he made up one hundred percent in wisdom.

He was the one that told me one day while we were fishing “ Jim, you gotta go where they aint fishin”...

That phrase has guided my investing strategy for over 22 years and I would now like to pass it on to you, so you too can also profit like I do from this simple phrase.

That being said...

What are you going to do to improve your real estate investing business in 2009?

I know that this is a question that many of us are asking ourselves this time of the year as spring approaches.
Many of us made New Years resolutions last month – are you keeping them?

Did you know that one of the best kept secrets to not breaking a new year's resolution?

Not making them!

WHY WAIT UNTIL NEXT JANUARY 1ST TO MAKE A COMMITMENT TO IMPROVE YOUR INVESTING IN THESE CHALLENGING TIMES?

Why not start this evening...You know February 15, 2009.

Get a jump on all the other people who are going to Wait until next year!

What I am about to reveal is a little used strategy to make money in real estate.

No...it is not Bankruptcy!

Yes...there are very few people using this strategy.

Yes...many of these properties ALREADY HAVE EQUITY!

Yes...you will learn a TON on how to expand this lucrative strategy.

Yes...you can implement this strategy as early as next week!

What is it?

PROBATE INVESTING MADE EASY

Discover The Proven Steps To Buy Property 50 -60 Cents On The Dollar even in a down market through Probates !

Nationally known real estate investor James Gage will show you :

How to buy property 50- 60 cents on the dollar
How to find properties
How to negotiate like a seasoned pro
What paper work is involved in the transaction
How to turn Probate property around in record time

with this jam packed CD Package – “Probate Investing Made Easy” .

James takes the mystery and uncertain out of this lucrative, leveraged real estate investing technique.

Before I let you go to read over exactly what this package contains, many individuals have called me and ask if I would put together a step-by- step affordable Probate package on Probate investing, well your wish is my command. I have put together a step by step compressive package on that very subject please visit the following link for more information:

http://jgage.com/probate-investing-made-easy.htm

but it doesn't stop there!

Normally priced at less then a few trips to Starbucks at $37.00, it is a great value if I do say so myself.
But for the next 3 days (February 15 - February 18 ) I am extending to you, my newsletter subscribers the astonishing price of only $18.50! That's a whooping 50% off my normal website store!

Enter promo Code 555 on you order/check out page to receive your discount.

So please visit the link provided for more information on this jam packed Probate Made Easy Package :

http://jgage.com/probate-investing-made-easy.htm

Don't forget promo Code 555

To your success,

James A. Gage
www.jgage.com

With this jam packed informational package you will never have to worry about how to invest with Probate properties again.

What you will learn with this powerful Probate package :

On CD 1 James, will teach you the ABCs of successfully Probate investing:

* How to buy property 50- 60 cents on the dollar
* How to find properties
* How to negotiate like a seasoned pro
* What paper work is involved in the transaction
* How to turn Probate property around in record time

On CD 2 you will receive James’s Power Point presentation that he uses to teach people One-On-One how to invest with Probates, This presentation will be a timeless resource for you to refer back to.

And as a bonus, you will receive the very letter that James uses to this day for contacting the individual(s) in the Probate process!

And of course like all of James's products you will receive much more.

http://jgage.com/probate-investing-made-easy.htm

Creative Real Estate Investing: Fannie Mae raises loan limits for investors

2009-02-10T21:19:00.001-05:00

Hello All:

Here is some breaking investing news...

Fannie Mae has announced on their website that the 4 loan limit has been removed, and, under certain circumstances, will allow an investor to have up to 10 loans.
This is great news for investors who are picking up foreclosures and keeping them for rental or selling on lease options.

Check out FNMA's website :

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdf

Creative Real Estate Investing: Stop Drinking The Kool Aid !

2009-02-03T18:57:00.002-05:00

Hello All:

Did you read the headlines today? Chrysler sales plunge 55 pct; GM, Toyota also down !

Is it just mean or did we, the tax payers, just bail out the big 3? Why yes we did...
Answer me this, why on earth would anyone keep investing money into a losing business model; can anyone tell me the answer to this seemingly million dollar question?

But that is exactly what real estate investors have been doing in these challenging investing times. Let me explain...

For far too long during this cycle I have witnessed countless investors drinking the "Kool Aid" of these so called Gurus trying to convince individuals to hand over the hard earned cash to learn about a strategy that can not possible work in this economic cycle. I understand that people like to surround themselves with winners, but most are just glorified salesman and have no interest in your success - just your wallet.

Some may say that James Gage is jealous of those hundreds of thousands of dollars made in cramped hotel rooms for 2-3 days of work. Nothing could be farther from the truth! I have purposely structured my business model in such a way that I can work One-On-One with people while I continue to do my own deals. Not only doing I think that the individual mentorship approach is the only way for maximum success, but I believe that only one who chooses to teach another, anything, you must be actively involved in it while you are teaching that individual.

So that being said, join with me today and vow to stop drinking the Kool Aid in every aspect of your life.

Real Estate Investing: Breaking News

2009-01-27T18:21:00.000-05:00

As many of you know yesterday the real estate data came out for the month of December 2008, and in the famous line from the Wizard of OZ “Are you a good Witch or a bad Witch?’

Let’s go over the numbers: Existing home sales up 64%, median home price down 15.3% to $175,400 compared to December 2007 numbers.

Some say this is the housing bottom we have all been waiting for and January’s numbers will be even better with median homes prices increasing.

I say NO! What a surprise. This is what is known as a data head fake! You see the media outlets are so desperate for a glimmer of positive news that they will take bad news and try to put a positive spin on it.

Let’s further break down how I came to my conclusion…

First, inventory generally decreases in the winter months, ask any realtor, so less inventory means better news for existing listings.

Secondly, most sellers who can’t sell their homes or have had their homes on the market for numerous months are taking them off the market and attempting to rent them out to stop or attempt to stop the financial hemorrhaging, thereby further reducing inventory.

Thirdly, the above numbers are a reflection of Short Sales and REO properties that banks and mortgage companies are unloading, coupled with deeply discounted properties AKA “Fire Sales”. I have always told my students and faithful newsletter subscribers that if you drop the price of anything low enough someone will come along and buy it, and that doesn’t mean there is a positive trend developing in the real estate market.

Finally, more inventory will be hitting the market in February and March due to loans readjusting again and more individuals will unfortunate loose their homes with the unemployment rate racing towards 10% nation wide.

That’s my story and I’m sticking to it.

Be well,

James Gage

PS: Now is a great time to do lease options, especially in a market which has lost its’ way:

http://www.jgage.com/rent-to-own.htm

Creative Real Estate Investing: Don't Forget Your Abatement!

2009-01-20T14:16:00.003-05:00

Hello All :

Just a quick note to remind you that in most states your last day to file for a real estate abatement on property taxes is January 31, 2009. You can fill out these requests for abatement for both residential and investment properties on a yearly bases.

For those of you that don't know what I am talking about, I'll recap briefly the process. First, you call your town or city assessors office and ask for an "Abatement " form , and of course the time from to file. Next you fill in all the requested information, along with making a compelling statement on why they should reduce the assessment on your property. Then, file it with the right governmental office and await their reply.

It has been my experience that most organizations will at least decrease your assessment, even by a few dollars for taking time to apply to the process, others will grant you a substantial reduction.

Remember, you have not, because you ask not !

Be well,

James Gage

PS: Don't forget to follow me on Twitter : http://twitter.com/JGage

Creative Real Estate Investing: Part 2 2009 Predications for Our Economy

2009-01-13T16:29:00.002-05:00

Hello:

My last post I promised to give you what I believe is the answer to combating my 2009 Predictions on the economy and the real estate investing industry which we are a part of.

The previous post is just a few elements of what I see happening in 2009, I hope they don’t happen, but 90% of my predictions last year have unfortunately have come true…

The good news here is if you start planning and taking steps with the info I have given you in these few lines you will be able to survive the storm, Remember, even in the “Great Depression” there were people who profited and actually became millionaires.

So what do I suggest?

Become a leveraged investor through the use of lease options, assignments of short sales and probates.
Buy silver to hedge against inflation - it is getting ready for a big move per ounce.
When investing in the stock market use “Options” – play the cycles, get in and get out.
Play the cycles in the Forex market.

Until next time be well.

Creative Real Estate Investing: 2009 Predications for Our Economy

2009-01-11T18:30:00.002-05:00

Hello all:

As I do every year I would like to give you what I see happening in the coming year in our economy.

You will see gasoline prices increase once again.
You will see oil prices escalate once again as speculators and corporations manipulate the oil and oil futures market !
You will see unemployment increase further towards 10% or more !
You will see the stock market increase to Dow 10,000 or even 11,000 in the months following the installation of the new President, after the optimism is gone and reality sets back in the stock market will retreat back into negative territory. We could possibly see Dow 6,000 before all is said and done !
You will see Gold escalate to $1600.00 or higher an ounce !
You will see the further devaluation of the U.S. Dollar against other foreign currencies !
You will see a temporary stabilization of the housing market, and then we will return to the downward trend in home valuations and the foreclosure arena !
You will see more banks fail and more bank mergers, until we end up with 1 or 2 banking institutions. Note: this may take an additional year or two !
You will see your state and local taxes escalate, because federal funding will be greatly reduced or cut off entirely, not to mention business revenue paid to the states will greatly be impacted because they will be going out of business in alarming numbers !
You will experience inflation on the rise in every aspect of our economy !

These are just a few of what I see happening in 2009, I hope they don’t happen, but 90% of my predictions last year have unfortunately have come true…

In my next blog post I will give you some ideas on how you can profit from the continuing decline in our economy.

Creative Real Estate Investing: Post Follow Up

2009-01-06T20:16:00.002-05:00

James Gage here hoping you and yours had a great holiday season. As many of you know, my faithful blog subscribers, I had blogged about what I believe is the next financial tsunami – “Commercial Real Estate” ! Needless to say, I received many e-mails asking me to expand on my comments and my take on the best way to approach commercial real estate. Not only will I expand, but I will give you my take on commercial and residential leases.

As far as commercial real estate goes I wouldn’t touch it with a 10 foot pole, unless I could use a lease option! Why? As most of know a lease option has many strategies within a strategy ( for more info on lease options visit my website http://www.JGage.com ) ; remember, if the deal doesn’t workout the way we envisioned it, we can exit without financial harm. The last article I read forecast business closures to accelerate into the 1^st and 2^nd quarter of 2009 – you do the math on what that translates into vacant commercial properties.

Hopefully we are all on the same page as far as commercial real estate and why we should stay away from it unless we use lease options. That being said, now is a tremendous time to renegotiate leases whether commercial or residential due to the down turn in the economy with your landlords.

In fact I was speaking to a friend of mine who is looking to open a business in the next 30 days in Virginia Beach, VA. Guess what? He was able to get a rent 45% under fair market value and 6 months free rent !!! Talk about landlords being hungry…

So the morally of the story is ask for everything, expect nothing and you will be surprised what you get.

Be well,

James Gage

Creative Real Estate: Happy 2009

2008-12-31T18:56:00.002-05:00

Happy New Year!

As we look forward to the great opportunities of 2009 in real estate I want to share with you an e-mail that was sent to me; it said …

94% of people dwell on the negative, and 6% see an opportunity in nearly everything that comes their way.

I'm looking forward to 2009. I'm convinced it will be a year of great opportunity, as it will also be a year of great change and paradigm shifts!

The best advice I can give is to "prepare for change". Keep a level head, work-out what is working and what is NOT working, mix this with an opportunity, and change accordingly. If your horse is dead, get off it and find another (I'm into riding several horses at a time). If your horse is wounded, then decide if you are going to fix it or shoot it. BUT whatever you do – DO SOMETHING - take action.

Good business is a combination of hard work, commonsense, grit determination, and gut feeling.

Talk with you soon.

James Gage

www.JGage.com

Merry Christmas & Happy Hanukkah

2008-12-24T17:12:00.001-05:00

On behalf of everyone at Gage Consulting Group, we wish you and yours a Merry Christmas. May the coming weeks entering the New Year be a time of refreshening and redefined goals and business plans for a prosperous 2009.

To your ongoing success,

James Gage

www.JGage.com

PS: Don’t forget our annual 50% Holiday Sale ends tomorrow, Christmas Day!!! So before you start your holiday festivities why not stop by our web store and get a jump start on your 2009 investing : http://www.jgage.com/Real-Estate-investing-shop.htm

Creative Real Estate Investing: XM Satellite Radio

2008-12-05T14:52:00.003-05:00

"Lease Option Marketing"

Event Info
Host:	Brian Higgins & James Gage
Type:
Network:	Global

Time and Place
Date:	Saturday, December 6, 2008
Time:	9:40 AM EST
Location:	XM Satellite Radio Channel 169

Description

Hello All:
James Gage here, with a quick note to invite you once again to join me on MYB Talk the topic will be " Lease Option Marketing" - the details are below...

See ya there.

Saturday, December 6, 2008

XM Satellite Radio Channel 169

"Mind Yo Business Radio Program. AKA MYB Talk w/ Brian Higgins"

Time : 9: 40 AM, EST

Topic : " Lease Option Marketing "

Creative Real Estate Investing: New Real Estate Cylce In Play!

2008-12-02T17:24:00.002-05:00

Hello All:

I hope everyone had an enjoyable Thanksgiving holiday and didn’t eat too much turkey – I know I did…

Many of you have asked me to let you know when I see another real estate trend/cycle developing, so your wish is my command.

What I am seeing is just starting to develop, that is, another real estate tsunami in the making – Commercial Real Estate ! I was very reluctant to call this cycle until I could confirm this with solid data, and now I have! If you’re an investor stay clear of commercial properties unless you use 1 of the 3 strategies I lay out:

Unless you have someone waiting in the wings to lease or buy said property- don’t touch it with a 10 foot pole!
You can negotiate it 35%-40% under Fair Market Value
You can use a Lease Option to secure the property; remember it’s the ultimate escape clause!

Now there is an exception to every rule, and commercial real estate is no exception. That being said, you will hear people and guru’s hyping up commercial real estate as the last frontier for investor’s to invest. But I believe that we will soon see massive empty commercial dwellings with tumble weeds blowing through them due to the following reasons:

Consumers are holding on to more of their income; people are becoming savers again.
Christmas sales will be much lower then forecasted causing retailers to close stores.
If big retailers who use leverage to buy are feeling the pinch what does that mean for “Mom & Pop” stores.
More people are turning to the internet, rather brick and mortar stores.
Businesses are filing for bankruptcy at an alarming rate, and start up businesses are at a 35 year low!

This is just a brief schedule of indicators supporting my call – there are at least 50 more…

I have been accused in the past of being the type of person that looks at a glass half empty Nothing could be further from the truth, actually, I look at it half full also! I want to be a balanced investor, looking at best case and worse case scenarios, thereby allowing me to make educated and balanced decisions on my investments. That is how I have been able to survive the last 21 plus years as an investor in changing trends and cycles; now I pass on my observations to you my fellow investors.

Until next time – may all your investments be profitable.

Be well,

James Gage

www.JGage.com

PS: Don’t forget my 50% Holiday Sale on all my leveraged Investing products – sale ends December 24, 2008

http://www.jgage.com/Real-Estate-investing-shop.htm

Creative Real Estate Investing: Happy Thanksgiving

2008-11-27T18:46:00.002-05:00

On behalf of myself and everyone at Gage Consulting Group http://www.JGage.com , we wish you a Happy Thanksgiving to you and yours.

James Gage

Creative Real Estate Investing: The Economy & Leveraged Real Estate Investing

2008-11-26T19:49:00.001-05:00

National Radio Debut

"The Economy & Leveraged Real Estate Investing"

Event Info
Host:	Brian Higgins & James Gage
Type:
Network:	Global

Time and Place
Date:	Saturday, November 29, 2008
Time:	9:00am - 10:00am
Location:	XM Satellite Radio Channel 169

Description

Hello All:
James Gage here, with a quick note to invite you my national radio debut on " The Economy & Leveraged Real Estate Investing" - the details are below...

See ya there.

Saturday, November 29, 2008

XM Satellite Radio Channel 169

"Mind Yo Business Radio Program. AKA MYB Talk w/ Brian Higgins"

Time : 9 AM, EST

Topic : " The Economy & Leveraged Real Estate Investing "

Real Estate: Thanksgiving & Real Estate Marketing

2008-11-23T21:23:00.004-05:00

James Gage here with Gage Consulting Group hoping that this e-mail finds you and yours in good health, and wishing you a Happy Thanksgiving.

So what does Thanksgiving and real estate marketing have in common? If you don’t do it the right way it won’t come out with the desired results!

If you're like most real estate investors your head is probably still spinning from the state of the real estate market and economy – you’re not alone…
You may be asking yourself how the heck can you make money in business, or for that matter as a real estate investor in these troubled times. Well, here is the “Magic Bullet” answer!

Knowing how to market! Sounds like a no brainer- right? Wrong ! Marketing is like opinions, everyone has one. As many of you know I called this market melt down both in real estate and the financials some 24 months before it happened in Falls church, VA at Frazier O’Leary’s REI group.
As you also may know my approach to real estate investing is with a 3 prong attack plan: 1. know the strategy you will use to control the property 2. know how to negotiate like a seasoned pro, and 3. know how to “Fusion Market”.

With real estate investors running scared and real estate buyers at a stand still, with limited amounts of qualified buyer’s to buy or lease option your deals, it is now crucial for you to take your marketing skills to the next level!

That being said, you won't want to miss out on "Real Estate Marketing The Fusion Way!"

Before I let you go to read over exactly what these CDs contain, many individuals have called me and ask if I would put together a step-by- step CD series on "Real Estate Marketing The Fusion Way!" well your wish is my command. I have put together a 2 CD

Set on that very subject please visit the following link for more information :

http://www.jgage.com/real-estate-marketing.htm

but it doesn't stop there!

Normally priced at less then a 1 trip to your local gas station at $37.00, it is a great value if I do say so myself. But for the next 3 days (Nov 23 - Nov 26 ) I am extending to you, my newsletter subscribers the astonishing price of only $18.50!

That's a whooping 50% off my normal website store! Enter promo Code 555 on you order/check out page to receive your discount.

After Nov 26 it will return to the normal price of $37.00. You maybe asking why am I doing this? Simple, I am committed to getting this information into as many investors hands as possible, thereby getting our properties sold or under control; not only does that increases our bank accounts $$, but it will also help our economy hopefully stabilize.

So please visit the link provided for more information on this jam packed 2 CD Set :

http://www.jgage.com/real-estate-marketing.htm

Don't forget promo Code 555

To your success,

James A. Gage

www.jgage.com

With theses 2 jam packed informational CDs you will never have to worry about marketing again!

What you will learn on this powerful 2 CD series:

Create winning and effective awareness campaigns that attract qualified buyers overnight!

Learn how to ignite real estate sales and increase commissions overnight through innovative marketing techniques that James Gage — who has made a killing throughout his successful
investing career in niche markets such as lease options, short sales and probate homes — will reveal during this special 120-minute 2 CD series.

James will teach you how to become an "outside of the box real estate marketer," blending various strategies — traditional and new — to create winning campaigns in 24 hours or less. It's all about "fusion" to gain exposure — the more eyeballs you can attract to your listings and services the more money you will make.

And with repetition comes recognition, which is paramount in a market starving for buyers and agents and brokers fighting over scraps. The time to change is now ... the calls, emails and inquiries will start pouring in tomorrow.

Here's just a sample of what you will learn on the 2 CD Presentations:

• Old approach vs. new technologies

• Effective marketing on a shoestring budget

• What works in different market cycles

• How to get winning campaigns up and running in 24 hours

• Should you have a website?

• Marketing strategies & techniques your competition is not using!

And of course like all of James's products you will receive much

more.

Click here to get your copy !

http://www.jgage.com/real-estate-marketing.htm

Creative Real Estate Investing: Guess who is looking for more money?

2008-11-14T17:27:00.002-05:00

I hate to tell you I told you so, but I told you so! If you remember I posted on my blog back in September that this 700 billion bailout ( more like 2-3 trillion) was a joke, and that they, the government, would come back to us looking for more money or stating that they mismanaged the funds that they were entrusted with.

Let’s take a look at what Motley Fool got from Mr. Paulson, AKA “Boy Wonder” speech today:

“Treasury Secretary Henry Paulson's recent comments about his shifting strategy for tackling the financial crisis have made many people wonder whether they're being robbed blind -- and, adding insult to injury, whether the perps are kind of clueless, too. In addition, he opened the door for the possible need for another cash infusion”.

This is too funny, if it weren’t so sad. You can’t make this stuff up!

To profitable deals,

James Gage

Creative Real Estate Investing: Foreclosure News

2008-11-09T17:05:00.001-05:00

Hello All:

Here is a small sample of what’s happening around the country with foreclosures as of November 2008.

Florida: Foreclosure filings up three fold over last year at this same time! October new and existing filings totaled 20,703 !

Georgia: At least 350,000 Georgia homeowners fell at least 60 days behind on their mortgage payment since the beginning of the year.

New Jersey: State officials have begun to roll out a program requiring mandatory mediation on certain foreclosure proceedings; this is the latest effort by local government to deal with a growing tide of foreclosures.

California: A new law mandates California lenders to notify a homeowner before filing for foreclosure.

Texas: Delinquent payments have led to a total of 11,526 foreclosure filings this year. Foreclosure filings are up 21 percent over the same time last year in the state of Texas, including the once hot market of Austin!

Wisconsin: Will receive an estimate $39 million from the federal government to stabilize neighborhoods and assist with the housing crisis.

Short Sales: How to Influence a BPO (Brokers Price Opinion) Ethically!

2008-11-07T21:41:00.002-05:00

What Exactly Is a BPO?

Broker's Price Opinion (BPO). A BPO is the opinion of property value given by real estate agent or broker. The BPO is an estimate of the selling price of property based on condition of the subject house, selling prices of comparable homes in the area and other conditions. This process is often used in the place of a full appraisal when a property goes into default and considered for loss mitigation. You must understand the BPO is an art and not a science so values can vary hence the reason for influencing a BPO. As an investor you want the BPO to be reported to the servicer as low as possible.

Comparable's - must be within 1 mile radius or less of property being valuated and typically sold within the last 6 months.
Comps are based on square footage, lot size, condition, bedroom/bathroom...which are graded on a plus or minus scale. If the comparable home has a garage and the subject property does not the subject property is less valuable the price to add a garage

The BPO always indicates if the property is vacant or occupied. If vacant the property must be secured with or without homeowner valuables inside the home.

There are 3 subject properties used to indicate property value. The BPO contains photographs of the property usually front, sides, street scene backyard and inside pictures if not a drive by BPO, if there is physical damage it.

What to expect during a BPO:

The agent will take pictures of the surrounding neighborhood, subdivision, or area, and make the following observations – they will :
Inspect the overall condition of the home
They will Estimate the cost of repair
They will walk the property and move quickly typically have a full day of reviews so in a hurry a few days later they Submit a detailed report of their research to the lender.

How to Influence the BPO

When speaking with the lender always request a Full BPO or Appraisal, explain the inside of the house is in worse condition than the outside and to get real value the agent needs to go inside. Give the lender your phone number as the contact number and explain to the lender that the homeowner is not available and there is no lock box. You have to let the agent in the house. You have to be flexible because they set the appointment and want to get the request out. Be sure to run low comps, high repair costs and any other flaws in the property or information about the neighborhood that will justify a discount and have available a list of negative factors, including a list of sexual predators that may reside in the area.

You need to be very familiar with the property and arrive early to do a last minute run through to familiarize yourself with conditions again. Be sure homeowner is not available for the BPO. The BPO agent will ask questions to homeowner and disregard your opinions and information. Be sure you are thorough with repair values and be very close with estimates. As the agent walks the house follow the agent very closely and highlight defects and give history of the house including what you are doing and what price you need in order to buy the property. Ask the agent if they have the same opinion of the property value. Be sure you are not too intrusive and let the BPO Agent be in charge and thank them over and over again for their time. You need to be the expert on the neighborhood so the BPO agent will trust your opinion.

Note: More and more banks and mortgage companies are using appraisers rather then real estate agents to do BPOs. However, the above tips would still apply none the less.

Creative Real Estate Investing: Get Rid of Bad Tenants; Find and Keep the Good Ones

2008-10-23T20:01:00.000-05:00

When you're a landlord, most of your time is spent dealing with maintenance and tenant issues. If you're lucky (and you've done your homework), your tenants don't cause too many problems - and the problems that do crop up are minor.

However, despite your best intentions, the person who looked like a great tenant on paper can become the tenant from hell. Bad tenants cause real headaches, for a number of reasons:

Evicting and replacing them is aggravating, costly, and time consuming
Their disruptive and noisy behaviors can drive out your good tenants
They can cost you big money if they damage your property

Before I give you my hard-earned advice about how to find and keep good tenants, let me first describe the four types of bad tenants.

Deadbeats - Simple - these are the people who don't pay their rent.

Demanders - These types of tenants drive you crazy with their incessant demands. On the other hand, demanders are usually the best bad tenants to have because they have high expectations for themselves as well and are usually well-behaved and neat.

Disrupters - The worst kind of tenant: These people drive everyone else in the building crazy by playing loud music, arguing, or exhibiting other disruptive behaviors.

Destroyers - Not to be confused with a renter who accidentally breaks something, destroyers are the type that repair their motorcycles on your new carpeting or get drunk and break your windows.

So how do you weed out the deadbeats and destroyers? In addition, how do you work with the demanders and disrupters so they don't drive you and everyone else insane? What follows are my six tips for finding and keeping good tenants:

Check all references

As with job references, a prospective tenant's previous landlord won't give honest feedback because they're afraid of being sued. When conducting your reference checks, instead of asking questions regarding a prospective tenant's character (e.g.: "Was this person a good tenant?"), ask questions based on facts that can be documented.

You can ask, for example, if the tenant paid his rent on time each and every month and whether he had any late payments. You can also ask for any incidents of property damage or disruptive behaviors.

It also pays to verify job and income history to ensure your potential tenant can pay the rent each month.

While still useful, a credit check is less important. Due to divorce or medical issues, people find themselves having to sell the family home and become renters. Such events can kill someone's credit in the short-term - which is why it's much more important to verify job and income history. A person who is working and making good money will often be grateful for the opportunity to help put his life back together by being a good renter.

Set clear expectations from the get-go

Many tenant problems can be traced back to the landlord's failure to set clear rules and consistently stick to them. In addition to stating when the rent is due, the lease should also state any rules about modifying the property, acceptable noise levels, any building-wide rules (e.g. no on-property vehicle repairs, no pets, etc.), and contacting the landlord.

During the lease signing, you should go over these rules and expectations in detail to be sure your tenant understands them.

Learn how to "read" potential tenants

As with anything, you cannot pre-judge people based on appearance. One of my best tenants had long hair, biker boots, and tattoos when I was landlordind. One of my worst tenants was a gentleman in immaculately pressed slacks, tassel loafers, and a designer polo shirt. When meeting potential tenants, watch for the following:

Over-eagerness - Your landlord "antennae" should be humming if someone wants the place right away - like now. This could mean that they need to get out of their current situation fast.
Lateness - If a potential renter shows up to the appointment late, doesn't return calls, or seems unreliable, pay attention. Usually this type of person will be unreliable in terms of paying the rent, too.
General weirdness - Always pay attention if someone makes the hairs on the back of your neck stand up or if he or she just seems "off" in any way. Often times we dismiss our suspicions, only to find out later that we were right about our instincts.

Turn "bad" tenants into good tenants

As I said, demanders are the best type of bad tenant to have - they demand things because they have such high expectations, which means they want to keep a property looking nice and well-maintained.

To keep demanding tenants at bay, especially those who expect you to rush out at midnight to fix a broken light switch, give all your tenants a cell phone number they can call to report any problems, rather than your home phone or business number. Let them know what hours they can expect to reach you, then be sure to check for messages regularly.

Give disrupters the benefit of the doubt at first. People used to living in detached homes forget how noise travels through the walls of apartment buildings, so they may not be aware that their loud music or late night guitar playing is bothering others. Often, just asking them to turn down the volume is enough, but if the problem persists, they've got to go.

Enlist the help of tenants you can trust

As a landlord, you want to know immediately if there's a real emergency with your building - for example, if it's on fire or a water main is busted. However, you don't want to give out your home or business numbers on the lease - because then you have those pesky demanders calling you night and day.

In this case, you'll want to find the most reliable and trustworthy tenant you have and give him or her your personal phone numbers - with instructions they're to be used for emergency purposes only.

Be a great landlord

The best way to minimize bad tenant problems is to be a good landlord to begin with. This means staying on top of things and keeping your promises. Be proactive about maintaining your property, promptly fix things when they're broken, and ensure contractors and repair people arrive when promised.

In short, treat your tenants they way you would want to be treated. You wouldn't want to sleep in a bedroom with a broken storm window in the middle of winter - and neither do your tenants.

Finding and keeping great tenants takes some time and due diligence, but your efforts will pay off. State your expectations and rules up front, conduct full reference and job/income checks, and maintain your rental properties as if you lived in them. Your tenants will thank you.