eCafe

In today’s world there are many financial casualties associated with the failing real estate market. There are many homeowners that purchased properties that had little knowledge,experience, or insights into the real estate market. But, there were also a number of real estate investors that could have and should known better. These good investors had experienced bad outcomes with their property purchases because of the lures, pitfalls, and hazards associated with the world of real estate. These lessons are important to learn because there are many new and experienced investors jumping back into real estate.

Those who do not learn history are destined to repeat it.

There were several factors and causes for these bad outcomes for these good investors. Some were lured by the gains reported in many publications. Others succumbed to the attractive sirens of the real estate Guru’s.

There were those who did not understand the order of purchasing investment property.Many purchased at the peak of the price points. Other wanted only to stay in their local markets. Miscalculations were made on the costs for holding properties. The what if’s… of holding property were never realistically expected or prepared for by the purchasers. Methods to truly analyze a real estate market and economy were not effective.Technology and available information was not used to its best potential. Real estate professionals were seen as the enemy and not used appropriately in the transactions. Many did not understand the cycles involved in real estate. And lastly, there was no neutral third party,who did not have a financial stake in the sale of the investment property, to review the property option for an investor.

Why is this important now?

The sales of properties are starting to increase. Although there are and always will be homeowners buying properties, the majority of the current real estate buyers are investors.They are snapping up the REO’s, pre-foreclosures, short sales, and foreclosure auction properties. There is a perfect storm for real estate investors - low demand, high inventory, low prices, and low interest rates. Sooner rather than later novice investors will be going back into the real estate market. Will they be armed with the knowledge and lessons learned of their failed predecessors? Will they be subject to the same lures, pitfalls, and hazards associated with the world of real estate?

Hope for the future

It would be my hope that the real estate investors of today and tomorrow take the time to study, learn, and apply the lessons learned of the previous round of investors. It would not be good to experience first-hand… “Why Bad Things Happen To Good Real Estate Investors”.

Would you or your group like a seminar or webinar on this topic ?

Would you be interested in an advance copy of the publication : “.Why Bad Things Happen To Good Real Estate Investors” ?

By Michael Gwynn

About the author

Michael Gwynn is a student and practitioner of real estate. Although he holds a California Real Estate License, Michael is immersed in the world of Real estate Investing. Michael has purchased and sold a number of properties across the United States, attended a number of real estate training classes, as well as created and taught a number of real estate training classes to Real Estate professionals, Lending Professionals, and Investors. Michael continues to conduct training on multiple facets of Real Estate and is currently in the final stages of his upcoming publication. http://www.MGwynn.com

In the age of the internet so much is done electronically. I wanted to meet my real-estate agent. This will be one of the most important decisions in my life to buy a home, I want to get it right. I asked my friends, each one of them have a different reason for wanting to reuse their agent, again. I heard things like my mothers cousin just got in the business. Or this guy was helpful but, he has a full time job. He was hard to reach. I want an agent that depends on return business. I want this agent to have more references then he is the cousin of somebodies mother. So I decided I had to do it myself. I had to find the agent I was comfortable with. To be the best fit for me.

All relator’s are licensed in their state to sell real-estate. They must take a series of courses, then a state exam. There are standards in which they must practice. You can check that state real-estate board to see if there are any complaints on the agent you are interested in. For an agent to stay in business they must have satisfied customers. There are some agents who specialize in certain areas of town, new construction, commercial, investment properties, and business sales to name a few.

A broker is someone who has taken additional series of courses. They are held to a higher standard of knowledge. They also can work on commercial and business listings.

I went to several open houses. Meet the agent. Interviewed the agent. Don’t be afraid to ask specific questions regarding their experience. Does (s)he seem interested in you being there? Is the agent sitting watching the television while talking to you? How communicative is (s)he? Are they professionally dressed?

Pay attention to the for sale signs, as you drive in the neighborhood, you think you want to live in. Are there sold signs? Does one particular agent have more signs then another? In a market slump, homeowners are still putting their trust in that agent who has the sign up, speaks volumes about trust.

Search online. It is no secret that being number one on the website is as the result of a fee payment. Looking for an agent this way in my mind, serves no purpose. Except if it can get you to the multiple listing service (MLS). You see thousands of homes for sale, frankly I was more confused then ever, using this without the help of my agent.

Print advertising can show you agents in the area you are interested in living. You can call them, interview them over the telephone. Ask about their experience. Ask if they are full time or part time agents. Ask for two or three references that you can call.

Don’t forget to ask your mortgage broker. They are generally a good resource for finding an agent.
When you have found your agent you will know it. Somehow it the gut of your stomach you know you made the best choice and I wasn’t proven wrong.

Thank you for reading my article
frankeckert@cox

Cherokee Investment Partners’ new headquarters in downtown Raleigh has become the first building in North Carolina to gain platinum certification under the U.S. Green Building Council’s Leadership in Energy and Environmental Design rating system.

Cherokee said Monday that its renovation of the former Heilig-Levine furniture warehouse is one of only 61 projects worldwide to receive platinum certification. The building also is the first LEED-certified project in Raleigh.

Tise-Kiester Architects, Empire Hardhat Construction, Carter & Burgess and Thompson Consulting helped to rehabilitate the 100-year-old warehouse, Cherokee said.

The new Cherokee headquarters incorporates a number of features that reduce energy use in the structure by 25 percent and water use by 45 percent - compared to traditional buildings.

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!