Real Estate blog

Archive for the ‘Buying’ Category

Real estate investors looking for a realtor in Houston should check out Eurika Coleman, a real estate professional that I’ve been working with for the past few years.

Ok, so I’m in the middle of a 1031 tax deferred exchange, the result of a New Years resolution to cash out of a high-end townhouse that had generated some equity and reinvest into a property(ies) that generates better income.

Real estate books are a mixed batch. There are those that I recommend, such as Eldred and McLean’s excellent Investing in Real Estate, now in it’s fifth edition. On the other end of the spectrum is Robert Kiyosaki’s bestselling fable Rich Dad Poor Dad, a dangerous and misleading book if ever there was one.

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It’s hard to argue with the success that Robert T. Kiyoski has had with his Rich Dad series. Head over to Amazon.com and you’ll see almost fifty items on offer; Rich Dad in English, Rich Dad in Spanish, Rich Dad for women and kids. Even Rich Dad in Chinese. My personal favorite is the DVD Rich Dad’s 60 Minutes to Getting Rich. Ok, it’s a bit pricy at $79.99…but that’s a small price to pay for a DVD that will make you rich in 60 minutes, right?

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Lots of ink has been spilled on how our jittery market is impacting homeowners. But it’s hard to find anyone writing on the question that looms largest in the minds of most investors: what do I do now?

There, of course, is no single right answer to this questions – it will depend you’re your risk appetite, your local market, your time horizon, and your view of what the market is going to do next. But from where I sit I see five basic paths forward for investors in 2008:

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The real estate industry slowly but surely continues it’s march towards a new, yet-to-be-defined future state – driven by technology, new players, new business models, and ever changing customer expectations.

The media scares me. We all rely on journalists to make a big world small and help us digest current events, but whenever I see an article on something that is within my area of expertise – like energy policy or real estate – I’m often appalled at how badly some publications mangle the facts and principles in order to spin an entertaining story.

The worst offender among the popular press, hands down, is USA Today.

Real Estate Investment Clubs (REI Clubs) have long been touted as an excellent means of learning about real estate investing, finding deals and networking with other investors. It is important for beginning investors to find clubs in their area that are reputable and have a dedicated group of members and hold regular meetings and networking opportunities.

Trustworthy clubs will let you attend your first one or two meetings for free. Here are some more tips to finding a great REI club to help you start your real estate investment business:

Beware of the Sell-fest - there are a few bad (more…)

A few days ago I wrote a post about inefficiencies in the real estate industry, and how most investors who sell a home using a Realtor will end up overpaying if they pay a five or six percent commission.

I wrote a similar post over at ActiveRain, a real estate network populated primarily by Realtors. A fairly interesting dialogue ensued, but overall I felt about as welcome as Don Imus at a rap concert.

But no surprise there; ours isn’t an industry that embraces change. But some of the comments did illustrate the fact that working with Realtors is an important topic for real estate investors, and it’s one that’s worth spending a few minutes considering.

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I’ve avoided blogging about this deal for fear of jinxing myself, but I’m close to completing a 1031 exchange that I initiated earlier in the year to comply with a New Year’s Resolution that I’d made to sell a high-end loft and trade it for a multi-family property w/ better income potential.