Saturday, March 27, 2010

Real Estate Investing: Lease Option, Rent to Own

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

Sunday, March 21, 2010

Real Estate Investing: Question of The Month

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


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

Thursday, March 11, 2010

Real Estate Investing: Beware of Short Sale Companies

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

Friday, March 5, 2010

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

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