Are you interested in cash flow or appreciation of the property?

Think about your end result: do you want to hold onto the property as a rental or would you like to sell it for quick cash?

There's always a first time for everything, and learning how to get into real estate is not exceptional. The issue in today's ReiVRE: Money Talk- Real Estate is – “How to make money in real estate?"

Are you interested in cash flow or appreciation of the property?

Think about what it will feel like to do that first deal. This article will give a big picture view of things to keep in mind when looking for that property. It can often be bewildering to think about what you must do simply to find a property.

When you are looking for your first property to invest, you must first know what you are looking for. This is where you need to decide your criteria regarding what to look for in a property. It is very simple to eliminate certain types of properties when you think through what you want. Think about your end result: do you want to hold onto the property as a rental or would you like to sell it for quick cash? Are you interested in cash flow or appreciation of the property? Asking these sorts of questions will allow you to better qualify the property you are looking for. Finding the first property is a numbers game. You need to look at a certain number of properties to find the ones which fit your criteria, talk with these homeowners to find the motivated ones, put in a certain number of offers to finally get one property.

Do not fall in love with any property. There have been many real estate investors who have fallen in love with a property and not asked the hard questions. This almost always will come back to haunt that investor in the end. Taking the time to be objective will save you a great deal of money. You have to remember that when you are doing real estate, this is a business transaction. At the end of the day, the numbers do the talking. You do not want to become the motivated seller because you ended up loving a property at first sight.

Listen to your team advisers. Make sure that you use a home inspector whenever you go into a deal. This is an objective person who can look at a house and tell you how much fix up work is needed. If you do a certain number of deals, you will get a good idea how much it will cost to fix up a property but you do not have this expertise when you are starting your real estate career. It may cost two hundred dollars or more for a home inspection but if this saves you ten to twenty thousand dollars because you avoided a bad deal, this is worth the cost. You have to think about home inspection costs as a cost of the business.

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Our guest contributor: Larry Goins - For more and a 10 part e-course on how to create your own Ultimate Buying and Selling Machine! Plus over 50 training audios simply go to www.LarryGoinsFreeOffer.com where you will gain instant access

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Real Estate Auctions

How to Get a Real Estate License in Your Local Area?

There's always a first time for everything, and learning how to get real estate license is not exceptional. The question in today's ReiVRE: Money Talk- Real Estate is – “How to Get a Real Estate License in Your Local Area?"

Real estate is an exciting industry that drives new agents in by the droves with its high commissions, friendly faces and the independence to set your own hours, but you will not get anywhere without first having a real estate license. It should come as no surprise that becoming a licensed real estate agent will not only open your life up to a bunch of great new opportunities, it can also start you down the path towards your dream career and secure your financial independence.

Many successful real estate agents are making a very comfortable living in this industry, the commissions are very high and you are free to sell as many homes as you can or want to, your income is a direct result of how hard and how much you choose to work.

Now I’m not going to lie to you and tell you how easy it is to obtain your license, because, well, in some cases it just is not that easy. Every state has different requirements, some of which may include getting college credits or being hired by a broker before you can even apply for a new license, so it will take some work, but just keep thinking about the rewards. Real estate should be a career choice that you put some serious thought into, it will probably require a lot of dedication on your part, but once you have thought about it and made the choice, you are ready for your journey. There are several things that you can do to make getting your real estate license a little easier. Some of these things are:

1. Do Your Research: Each state has real estate laws that specify the requirements necessary to obtain a real estate license. You need to research these requirements to learn what will be entailed to get your real estate license.

2. Cover Your Bases: Fulfill any pre-license requirements there might be. This could include educational requirements depending on the state you are residing in.

3. Train Hard: Prepare yourself for the intense training required to get your license, there is a lot to learn and remember. I would recommend that you go on to the Internet and acquire some sample testing and training materials. These will give you an idea of what you have in store for yourself when it is time to take the actual test. Aside from that, Practice, practice, practice since you may not have been in school for a while, retaining the information may be difficult at first.

4. Follow Up: It would also be a good idea if you check with your states real estate licensing center to see what the post-license requirements might be, before moving forward.

Rest assured that being prepared will make getting your real estate license much easier. The real estate licensing test can be very difficult especially if all of the information is new to you. You are going to have to remember a great deal of data so take plenty of practice tests and take the test as soon as you can after your course work. The fresher the information is in your mind the better you will do on the actual license test.

Several years ago, when I got my real estate license, I chose to go with a local company that offered real estate courses and they guaranteed that I would pass the test with their help. If you can find a company that offers this guarantee you will be much better off, should the first round not go so well. It can save you a great deal of money. The fees to take the test can be expensive and your state may require a waiting period before you can retake the test. Yes, you guessed it, I failed. I had to wait to retake the test but in the meantime I was able to go back to school and retake the course. This allowed me to fill in the gaps I missed the first time. By the way, I passed the next time.

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Our guest contributor: J.Donnovan provides free real estate license information to prospective real estate agent, including information on how to get a real estate license and state requirements for obtaining a license.

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Obtaining A Real Estate License

Mortgage and Real Estate: 4 Imperative Fraud Tips

There's always a first time for everything, and getting to know Mortgages and Real Estate Frauds is not exceptional. The question in today's ReiVRE: Money Talk- Real Estate is – "What are 4 crucial mortgage and real estate fraud tips?"

4 Imperative Mortgage and Real Estate Fraud Tips

There are many different types of real estate and mortgage fraud. Basically you can identify them as either a fraud to make a profit, or a fraud to get the property. Regardless of which it is a fraud is committed when falsifying of records occur in some way. In this article we will take a look at a few of the different types of real estate and mortgage frauds.

In recent years with the advent of technology and the internet there has been increased focus of privacy and identity theft but this is nothing new. Theft and fraud has always been a constant threat but especially in our society where your credit is everything and everything can be bought on some form of credit. And the largest form of credit most people have is their home mortgage. But what if the mortgage you have is not even yours and on a property you did not know even existed. This is mortgage fraud and it can happen to anyone.

There are many different types of real estate and mortgage fraud. Basically you can identify them as either a fraud to make a profit, or a fraud to get the property. Regardless of which it is a fraud is committed when falsifying of records occur in some way. In this article we will take a look at a few of the different types of real estate and mortgage frauds.

One of the most common types of fraud committed in the real estate and mortgage industry is on the loan application itself. It is not unusual for the applicant to increase their income or lie about their job.

They might even lie about where they got the down payment. It is not unusual for the down payment to actually come from the person selling the home themselves. These are all examples of loan application fraud.

One area where fraud can be committed and is hard to prove is on the appraisal itself. You could have two different appraisals just from the appraiser themselves.

There are so many things that are subject to interpretation on an appraisal. The problem can come because the appraiser themselves feels pressure from the buyer, seller, and the real estate agent trying to come up with a number that satisfies everyone can create a fraud situation.

Today there are so many different levels of credit that it can become imperative to a buyer that they obtain a fake credit report. Trying to clean up their credit report can be the difference in qualifying for mortgage loan or not.

On the loan it self there could be various things that are not true. Another area that can really affect the approval loan is the income level of the applicants. It's not uncommon to list false income and even come up with documents to back that up when in fact, they really are not true. This is creating fraud against the mortgage company.

One thing that is used to document income is tax returns and today these are very easy to forge as well. The Internet makes it simple to go in and doctor your tax returns to come up with a different copy than what was actually sent to the IRS.

There are many other different types of real estate mortgage fraud. Some of these have been flipping situations, equity skimming, and the pretend homeowner loan. Regardless of how it's done real estate and mortgage fraud is illegal, and can be punishable by large fines and prison time.

Credit to our contributor: Aaron Adida- is a mortgage specialist who specializes in construction loan feasibility for ConstructionRenoLoans.com.

Our mission is to provide you all the information you need about Real Estate Investing to make a smart decision.

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