Dave lindahl says about basics of real estate investing

Dave lindahl says about basics of real estate investing

Dave lindahl says about basics of real estate investing

dave lindahl says that the details of real estate investment can be overwhelming. There's a whole new language to learn: closing costs, resale value, liquidity, and inspections. But if you're willing to overcome your apprehensions, you'll find that real estate can be a wise investment. dave lindahl says that if you are considering investing in real estate, it's important that you do your research so that your investment will turn into a profitable venture. It's harder to get out of real estate than a stock or bond purchase, so educate yourself and make sure you understand exactly what you're doing.

dave lindahl says that a real estate investment is generally tangible — you buy land or property that you can actually see. Think about how stocks and bonds work. You invest your money in a company you do not physically own. By buying shares, you are in essence lending the company your money and hoping for a profit. With real estate, you own the “company,” so you need to sell “shares” of it to see a profit — by selling or renting the property.
dave lindahl says that you must consider inflation when investing in real estate. Believe it or not, a real estate investor can reap profits from inflation alone. Check out this example. An investor has $30,000 worth of equity in a $100,000 property. With a 3 percent inflationary increase in property values, her holdings are now worth $103,000 — a $3,000 increase. That $3,000 increase on her $30,000 investment translates into a 10 percent return — due solely to inflation.
These are the 5 core skills of real estate investing says by dave lindahl:

1) You must learn when and where to find the right kind of sellers.

2) You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.

3) You must be able to quickly and accurately analyze each real estate investment deal so you’ll know exactly when to proceed and when to pull the plug.

4) You must become an expert in all areas of real estate investment and understand such terms as lease options, cash sales, wrap mortgages, short sales and other terminology common in the real estate investment trade.

5) You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.

Now is a great time to consider investing in real estate. There are great potential rewards and the effort you put forth can yield enormous monetary returns on your investment.

Your confidence level will grow when you’ve gained some experience and closed on your first few real estate deals. But, don't stop there...

Dave lindahl says that Continue to learn about real estate investing and to develop your investment skills. In a short time you may find yourself managing a profitable and growing portfolio of investment properties.

Dave lindahl Says : How to avoid pitfalls in real estate investing

Dave lindahl Says : How to avoid pitfalls in real estate investing

How to avoid pitfalls in real estate investing says by dave lindahl.
Dave lindahl says that 8 Common Pitfalls Real Estate Investors Should Avoid
dave lindahl says that Investors themselves often block the path to success with self-defeating attitudes, actions, and especially inaction, failing to “get out of their own way.”  While intelligent investing is obviously a better strategy than ignorance, succumbing to “the paralysis of analysis” thwarts any chance of success. Steering a balanced course between the two poles of over- and under-thinking is the key.

Focusing on Negative Experiences

dave lindahl says that Investors who focus on negative experiences and ignore successes suffer from a kind of tunnel vision that prevents them from seeing and understanding the big picture. Maintain perspective rather than allowing a single setback to inform your whole investment strategy.

Investing in Wrong Kind of Instruction

dave lindahl gives an tips in Investing time, energy and resources on the wrong kind of instruction is a common and costly mistake. Instead, pursue an education that teaches how to find success where others have failed, creating avenues for opportunity.

Excessive Greed

dave lindahl provides that an excessive greed can be an expensive attitude for investors. Wanting to maximize profits is only natural, but the price of stubbornly trying to squeeze every dollar out of a rental property could be a costly vacancy.

Failing to Listen to Property Managers

dave lindahl says that the Failing to take the advice of property managers can be as big a mistake as heeding only their counsel. Ideally, investment counselors draw on a wealth of information to provide impartial advice. But investors ultimately must rely on their own judgment. Enlisting the services of a qualified property investment adviser to help you manage your portfolio and keeping the lines of communication open is essential.

Panic Buying or Selling

Panic buying is deadly for investors, but panic selling is even more perilous and prevalent. While it’s never wise to blindly rush into a deal, it’s just as dangerous to react to a random setback with a knee-jerk decision to sell. Likewise, investors whose stock answer is “No” block access to opportunity, while “Yes” is the key that opens doors.

Becoming Over-Extended with Debt

dave lindahl says that the Failing to respect the powerful investment tool of leverage by becoming over-extended is an all-too common pitfall. Maintaining adequate reserves is the best way to counteract being derailed by debt. 4% is the recommended minimum, and this reserve must be separate from funds for other expenses. Failing to adequately plan for contingencies is another mistake that violates the principles of prudent investing.

Making Investments During Major Life Changes

dave lindahl provides an advice in making major career or life changes while pursuing investments disrupts the secure foundation crucial to success as an investor. Change itself is an inevitable part of life, but be sure to regain your solid footing before plunging into an investment.

Letting Your Personal Circle Influence Decisions

Letting your personal circle or “sphere of influence” affect your investment decisions can be dangerous. Be careful where you get your advice and consider the source. Failing to stay in control of your investments endangers your financial future. The way to avoid paying hefty fees, often for bad or even fraudulent advice, is by being a direct investor.

dave lindahl says that knowing yourself will help launch you in the right direction as an investor, and steer clear of the self-sabotaging behaviors that derail even the best-intended plans.

Dave Lindahl Says how to investing in real estate in your home town

Dave Lindahl Says how to investing in real estate in your home town

How To Investing in real estate in your Home town says by dave lindahl.
Goal Setting Say by dave lindahl
Dave lindahl says that the most successful people I know are all goal setters. They sit
down and vision where they want to be, decide how long they want it to
take them to get there, and write up a plan and stick to it until they have
reached their goal.
After they reach that goal, they set another, then another. If you
have ever wondered what it takes to be successful, this is one of the most
important -- if not the most important -- attributes of a successful person.
There is a famous study done about the graduating class of 1954
from Harvard University. If you haven’t already heard about it, I’m going
to tell you about the results. If you have heard about it, I’m going to go
over it again, because it is that important.

The students were interviewed in the mid 1980s and were asked,
among other things, if they consistently wrote down their goals. Only
three percent had made it a habit of writing down and reviewing their
goals. As it turned out, that three percent were far wealthier than the other
97 percent of the class. As a matter of fact, that three percent had obtained
87 percent of the wealth of that entire class had generated. Isn’t that
amazing?! That is the power of goal setting.
Dave lindahl says that fastest way to obtain anything that you want from life, whether
it is to drive a new car, acquire more money, buy more houses, or take
longer vacations, is to have written goals.

A goal will be written by dave lindahl. If it’s still in your head, it’s just a dream.
And while dreams are good, goals will make you wealthy.
When you write your dream (your vision) down on paper, it
instantly becomes a goal. A funny thing happens when you commit a goal
to writing. Your subconscious mind, as if on command, starts directing

dave lindahl says that have you ever read the book Think and Grow Rich by Napolean
Hill? If you haven’t you should. In the book, Hill talks about a “secret”
throughout the entire book. And he tells you that if you can figure out the
secret you can become richer than your wildest dreams. Well, the secret is
to believe from the bottom of your heart that you already are what you
want to be, and you will become it.
To give you an example of how this came about in my life, about
one year into my construction business, I decided that I was going to also
be a successful real estate investor. I envisioned myself owning many
pieces of real estate, I saw myself driving in a fine car and wearing a
business suit (because at that time I thought all successful real estate
investors wore suits). Little did I know!
Well I started wearing a two-piece suit into the office. The first day
my secretary asked me what the big occasion was. I told her that I’d
decided that this is the way that I was going to dress from now on when I
didn’t have to be on a job site. She thought I was crazy.
Well, I continued to change into a two-piece suit every time I went
into the office (the office was above my garage at my house!). And each
time I bought and sold another piece of property, I rewarded myself with
another suit.

dave lindahl says that next thing you know, I have a closet full of suits, a bank account
full of money and more properties than a monopoly board. All because I
lived my vision before I got there (my vision included more than just the
two piece suit…and I lived it all way before I got there).
You know what else is funny? When I went out in public wearing
that suit instead of jeans and a T-shirt, I was treated a whole lot
differently. People started calling me sir. Clerks were more pleasant, and
at a crowded counter I was usually one of the first to be waited on. My
credibility went sky high.
It got to the point that I realized that whenever someone was rude
to me or whenever I was treated badly or I was not taken seriously, I was
usually under dressed.

Dave lindahl Says seven ways to avoid mistakes in real estate investing

Dave lindahl Says seven ways to avoid mistakes in real estate investing

Seven Ways To Avoid Mistakes In Real Estate Investing Says by Dave lindahl.
Through no fault of your own, you may be facing one of the greatest challenges of your
life how to prevent your property from being foreclosed upon.
Why let the bank take your most valued asset and leave you with nothing Fortunately,
alternatives exist. In fact, these are seven ways you can avoid mistakes says by dave lindahl. They are:
1. Refinance;
2. Bring your mortgage current;
3. Create a “workout” with the bank;
4. Declare bankruptcy;
5. Create “shared equity”;
6. Transfer title; and
7. Sell the property quickly.
Let’s discuss each option—what it is, and the pros and cons of using each one:

1. Refinance
Dave lindahl there are many different types of financial institutions that lend
money. Although you may not be able to refinance with your local bank due to your
current situation, there are many mortgage companies and lenders who specialize in
creative financing solutions. That’s how they can compete with the big banks. They are
often able to review your situation and find a solution to your needs.
It is true that the loan you get will probably have a higher interest rate than a regular loan.
But if you have a good amount of equity in your property, the ability to refinance will
most likely be a good option that’s available to you.
2. Bring your mortgage current
Dave lindahl says that I know what you are thinking: “If I could bring my mortgage current, I wouldn’t be in
this situation!” That may be true, but have you investigated every possible way that you
may be able to get the funds?
Can you borrow it from a friend, family member or co-worker? Can you sell something?
Does your employer have any hardship loan programs? Brainstorm with family members
or close friends. The more you think about it, the more likely it is that someone will
remember or come across a solution.
3. Create a workout with the lender
Dave lindahl says thats the lender does not want to foreclose. That’s because lenders are in the business of
having their money at work in loans, and not sitting in a property they have taken back
through foreclosure. Not only is that a black mark on the lending institution, but it hurts
their financial picture as well.
Therefore, in many instances lenders are willing to do “workouts”. What this means is
that they are willing to work out the back payments that are owed, until you become
current again.
A typical workout would be the lender taking the full amount of your back payments and
dividing that number by 12 or 24. They would then add that amount to your current
payments, until you are paid off.
4. Declare bankruptcy
Declaring bankruptcy is viable option to being foreclosed upon, but it should be used
only as a last resort. Also, use it only if you know that you will be able to keep up with
the future loan payments. Otherwise you’re just postponing the inevitable, and the longer
you wait, the less money you will walk away with from your property.
A bankruptcy will be reported on your credit report for seven years. The bankruptcy will
also be reported in the financial section of the newspaper—it’s a requirement from the
bankruptcy court.
5. Create shared equity
To create shared equity, you borrow the money from an investor, in order to make up
your back payments. In return for bringing your loan current, you give the investor a
certain portion of the equity in your property. You are giving up part ownership, in return
for keeping part ownership: That beats giving the whole thing over to your lender.
Of the seven methods to avoid foreclosure, this is the most difficult to accomplish,
because there are not many investors who are willing to risk money (the back payments)
on an individual who has a history of not paying.
6. Transfer title
This is a form of property sale. It’s called a “subject to” transaction. An investor offers to
make up your back payments and take over your property, subject to the existing
mortgage.
The title of the property goes into the buyer’s name, though the mortgage stays in your
name until the loan is paid off. This could take as little as thirty days, or as long as three
years.
You may ask, “How do I know the investor will make the payments?” The answer is
quite simple: He has just made up all of your back payments; he now has a financial stake
in the property. It only makes sense that he makes your payments to protect his
investment.
This type of sale is becoming quite common. The benefits to you:
• You don’t have a foreclosure on your record;
• You may get some cash immediately to start fresh;
• You immediately solve your looming foreclosure; and
• Your credit gets build back up through no effort of your own, because the investor
makes up your back payments and begins making your monthly mortgage
payments on time every month.
Before long, your credit score is once again in good standing.
7. Sell your property quickly
Dave lindahl says that sometimes people just want to walk away from a bad situation, and leave everything that
reminds them of that situation behind. In this case, you sell your property outright, collect
any equity that you have in the property and start over again.
One great thing about time is its ability to heal wounds. Yes, things may be bad now, but
as Johnny Cash always said, “This too shall pass”. It may be time to face what is
happening, and act in your best interest right now for a better tomorrow.
You can sell your property through a real estate agent or directly to an investor. Selling
directly to an investor will save you the commission that you would pay to a real estate
agent and more importantly will save you time.
Dave lindahl says that real estate agent sometimes takes three to six months to find you a buyer. If for some
reason that buyer cannot get financing or close on the property, you might be left in a real
bind.

Dave Lindahl says setting your financial goals in real estate investing

Dave Lindahl says setting your financial goals in real estate investing

Dave Lindahl - Setting your financial goals is very important in real estate business. You must have a specific target which you want to achieve within a certain period. Fix a target which you really want and not just something that sounds good. Instead of having your goal as you want more money, you can set that you want to earn $6000/month after one year. Be specific in what you want to achieve and hence you can work towards your target. Dream high, but, at the same time fix something that you can achieve. Earning $60,000/month after one year will need a miracle to happen whereas earning $6000/month would be realistic. Make your goal measurable and then it will be achievable. Instead of using negative terms, write your goal in a positive manner that you want to replace your current job with a better job instead of writing that you want to leave the present job. Fix a deadline which will separate your goals from your dreams. Break your long term goal in to short term goals, fix deadlines and plan accordingly. With each step forward, think if this activity will take you closer to your goals. Don't let others know your goals and avoid negative people around you because some might not like to see you succeed. At certain levels in your career, be prepared to review your goals and think if you are moving in the right path towards your goals.