Real Estate Titles: Understanding Your Agent’s Credentials

Real Estate Credentials

When choosing a real estate sales agent to represent you in a sales transaction, you may wonder what the initials are behind an agent’s name. Familiar initials are GRI, CRS or ABR. There are also words, such as Realtors, Designated Broker or Associate Broker. But what do they mean, and what do they mean to the client?


The first familiar word is Realtor, which can sometimes even be confusing to real estate sales agents who are just entering the profession. Not every licensed real estate sales agent is a Realtor. A Realtor is a member of a professional association, which has been created to promote a higher code of ethics for its members.


A Broker or Associate Broker starts out as a sales agent. In Arizona, you must have three years experience as a licensed sales agent before you can aspire to be a Broker. Those who earn their Broker’s license must completed specific extensive education requirements and past state tests. After earning your Broker’s license, you may choose to be a Designated Broker (DB) or Associate Broker. Sales agents must work under a Designated Broker, who is in essence “the boss”. If you are an Associate Broker, you also work under a Designated Broker. Many sales agents decide to progress to Broker for the education, and have no intentions of becoming a Designated Broker.


GRI stands for Graduate of Realtor Institute. It is a designation developed for members of the National Association of Realtors, and is offered through state associations. To earn the designation requires 90 hours of coursework on various topics, such as marketing and real estate law. The classes, which can be used to fulfill the agent’s ongoing education requirements, tend to be more extensive and require testing, unlike standard continuing education courses.


CRS stands for Council of Residential Specialists. This designation is considered the highest awarded to a sales associate in the residential field. To qualify requires recognizing both education and experience.


ABR stands for Accredited Buyer Representative, and focuses on training for buyer’s agents. The applicant must fulfill both requirements of education and experience, and must pay an annual membership fee.


SRES stands for Senior Real Estate Designation. This designation is earned by Realtors who complete coursework on how to best meet the needs of homebuyers in the 50+ age group.


There is a wide range of designations and certifications, many of which require good standing membership in the Realtor Association. It is not uncommon for a commercial real estate agent to not be a member of the Realtor Association. There are a variety of designations that may or may not be sanctioned by the Realtor Association.


Many required classes, either to fulfill continuing education requirements, or to complete a designation or certification course, may help the agent better serve their clients. The next time you choose a real estate sales agent, check out their initials and titles, to determine which agent might better serve your needs.

Real Estate Market on the Rebound

Real Estate Market

Fluctuations in the real estate market have made headlines across the country for the past year. Many for the down turn have blamed sub-Prime lenders and secondary market loans in the real estate market. Lenders who allowed the processing of home loans to individuals who just simply could not afford “that much house” prompted a multitude of real estate foreclosures from the east to west coats, leaving virtually no area of the nation unscathed.

All of the media hype, which surrounded the down turn of the market over the past year, may have influenced the overall state real estate sales. Summer is traditionally the high time of the year in the real estate market, and industry experts are predicting a turn around for both homebuyers and sellers. Many real estate companies are sponsoring television commercials and print ads promoting the stability of the real estate market. Leery homeowners are once again feeling secure enough to put homes back on the market in the hopes of a quick sale. The largest obstacle to overcome for homeowners is the fear of earning market value on their property. Real estate appraisers are legally bound to utilize sales data, which is a maximum of one year when appraising any type of property to ascertain the comparable market value.


For the real estate market to get back on its feet, a median number of listings must become available. Lenders are remaining a bit hesitant when approving loans, with stricter guidelines surrounding the applications process. Those who do receive loan approval are entering a buyer’s market. Such a market dictates lower prices than the norm, with sellers facing a disadvantage when attempting to gain top market value for a piece of real estate.


Many of the homes placed on the market at this time are from buyers who need to get out from under a payment they perhaps cannot afford, and are attempting to avoid foreclosure themselves. Real estate auctions on foreclosed homes are also a large portion of the market at this time. Some homeowners are in a difficult situation, finding themselves holding two mortgages. Homeowners who were in the process of relocating, or purchased another home are a large part of the current market.


Potential real estate buyers can get a quality home at a bargain when purchasing a foreclosed property, but need to enter into such a transaction fully informed. When purchasing an auction home, the ability to inspect the home prior to purchase usually is not an auction. A buyer should research the possibility of back due real estate taxes, liens, and condition of the home before placing a bid. Homeowners who loose a home due to a foreclosure can often leave the home in less than pristine condition. The owners before the sale often strip foreclosed homes of light fixtures, flooring, and appliances. The court cannot issue transferable title until all bank owed, or other liens are satisfied. The new owner assumes all such encumbrances when purchasing foreclosures.


A large numbers of homeowners are considering selling a home without the aid of a real estate agent by sticking a “For Sale by Owner” in the front yard. Websites such as are attractive at first glance. The possibility of saving money paid in commission to a real estate agent, and establishing their own asking price entices many homeowners to try selling piece of property on their own. By averting the appraisal process, the true market value of a home remains an unknown variable. It is entirely a misconception that such an option is a good idea. Lenders absolutely will not approve a loan for an amount higher than the home is valued. While asking $269,000 for a home in initially sounds good to an owner, it often leads to a dead end when attempting to complete a transaction. Finalization of a purchase contract cannot occur if a buyer cannot secure funding.


Further drawbacks with attempting to sell real estate without a licensed professional involve a lack of marketing, and buyer confidence. Ethical restraints which real estate brokers and agents must adhere to, do not apply to individual homeowners. Prompt and full disclosures of latent defects, deed restrictions, and permit violations. Buyer confidence in the integrity of the home is worth far more than a commission of the sale price to a real estate agency.


Industry experts are once again placing their faith in the market. Listing a home or other piece of real estate will result in an eventual sale, but at a likely less inflated value than in recent years. The most successful sellers will be those who adequately prepare their property for showing, and enlist sales professionals to market the home. Buyers themselves can also secure the assistance of a real estate agent, to ensure their potential home is a good buy, and free of defects.

Tips for Successful Real Estate Flipping

Real Estate Flipping

One important skill you need to develop is how to analyze real estate deals, to be able to tell a bad deal from a good deal. This will make a difference in determining your overall profit. It is best to be sure you have accurate information on the area you are thinking about investing in. You need to farm a certain area and become familiar with it or have a real estate professional that you can consult. You will also need to be able to determine which things on the property that will need to be repaired to achieve a reasonable market value and a good estimation of what those repairs will cost. Always leave room for unforeseen difficulties and obstacles that may arise.

Negotiation is another important part of being a successful real estate investor. This can make a big difference between having a large income generate a considerable amount on the table. You want to make sure that you are building a profitable business that will keep growing over time but you do not want to play mind games with a seller to get them to sign a contract. Your negotiation skills will improve over time when dealing with sellers, contractors and other professionals that you will be working with.


You will also need to work on building your networking skills as they will have a large impact on your bottom line as you will likely be relying on other professionals to help move your real estate deals along. Some professionals you may be networking with are real estate agents, tax advisers, attorneys, contractors, and title companies. You will need to network continuously in order to choose the best people for these important positions.


Your marketing skills will also be very important in building your real estate flipping business. Sometimes this marketing might include flyers, signs, classified ads, direct mail, and word of mouth. Having a well set up marketing plan in place will free you to work new deals while your marketing strategies are operating to bring in new prospects.


It is necessary for any successful real estate flipping business to have good organization. One or two deals working at once can be handled pretty easily but when you have four or five going on at once it can get very confusing if you are not well organized. The deals will be at different stages at different times and you need to be very organized in your planning in order to get them all closed on time. Your organizational skills will keep everything running smoothly and efficiently.


Building all of the above skills will help you to achieve maximum success in developing your real estate business. Keep improving on these skills as you go along and watch your business grow.

Mobile Alabama Real Estate – What You Don’t Know Could Be Costing You Money

Real state

Mobile-Alabama-real-estate and the process of purchasing or selling property are points that are looked at in depth in this article. Many things can impact the prices of real estate, and you will learn some facts that will help you. This information can provide you with crucial financial insights if you want do business in the Mobile Alabama real estate market.

When you compare Mobile-Alabama-real-estate statistics to those in other areas of the nation, there are some variations you should probably know about. Before enlisting a professional agent to help you hunt for property, it is often sensible to learn some information about the market on your own first. You will probably be interested to know that the cost of the average home in the Mobile Alabama real estate market is $147,000.00. And the number of homes now on the market gives you some idea of the likely competition you can expect. At this time, a total of 480 houses are up for sale. This is exactly the kind of information you want to know about homes in Mobile, or anywhere else you might be considering.


If you want to enter the Mobile Alabama real estate market, you should ideally choose an agent who specializes only in that area. If you’re going to be buying real estate in Mobile but selling a home that’s located in a different area, then use a local agent there to sell your home. So there could be two realtors helping you in this case. When you’re buying Mobile real estate after selling elsewhere (or vice versa), you should be using realtors who specialize in each of the markets involved. This is the best way to ensure that you are dealing with a professional for each transaction.


Or you might not now live in the Mobile real estate market, but for whatever reason you’re going to be relocating there. If you are moving in from someplace else in the state but looking at homes in Mobile, then you need to take some time to learn about the area before you come. And if you’re relocating from another state then you will need to make a direct comparison of the markets from cities nationwide.


The Mobile Alabama real estate area has an average annual income of $31,445.00. This is in comparison with the median US income of $44,512. The average home has 2.46 people. This data covers an area in which 27.4% of the households include children. This information is particularly important for parents, since it provides some insight into the quality levels of neighborhood schools.


The percentage of the population in the Mobile real estate area that are single males is 14.9%. And 15.6% are single females. Allow yourself about 22.9 minutes to get to work if you are planning on driving. According to national data, the average commute is slightly more than 26 minutes.


Bottom line, you must remember to use a local real estate agent when you are looking to buy or sell property. If you are selling real estate in Mobile, find an agent who can sell it for you. When you’re looking to buy a home other than in the Mobile Alabama real estate area, make sure you find a good agent there who will be able to find you the home that best fits your requirements.


You’ll have to think about a lot of different things when selling or purchasing real estate. The right home for you depends on a variety of factors, including not just the cost of the home, but also individual circumstances. Since you have some good information about the Mobile Alabama real estate market now, you should learn even more in order to make a very important fiscal decision that will affect your entire financial life.




Terrific Gifts for Real Estate Agents

Real Estate agents often give their clients nice gifts when they get to the closing table, and many people think the agent’s ‘gift’ is their commission, but real estate agents work their tails to the bone, and a little something extra would be nice. On the other hand, you may have a spouse who is a real estate agent. Maybe your daughter has just passed her real estate exams and signed on with a broker.

I have been a real estate agent in Washington (the state) for a few years now and here I will suggest gifts that I like for myself, and that your real estate agent will probably appreciate for your thoughtfulness and support of them in a very tough, stereotyped profession.


A Great Cell Phone with camera – Real estate agents use their cell phones every day, often ALL day, and need to have a quality cell phone, with a great plan. Believe me, as a real estate agent I use lots of minutes, sometimes 3000+ minutes, so check to see what overage minutes cost. Another consideration is network reliability in the area your real estate agent works. I have used the camera on my cell phone to quickly let clients know about homes that are just on the market, giving them a head start to purchasing their dream home, and believe me, they appreciate it! You can get a great general overview of cell phone providers and plans in your locale by entering your zip code at Lower My Bills, You can select ‘compare’ and have a side-by-side look at all available providers in the area.


Personal Protection Devices – Sitting in an Open House or meeting unknown ‘clients’ for walk-throughs can be scary, even for seasoned real estate agents. Most real estate brokers tell their new agents about personal safety, but many include horror stories. The two best personal protection devices, in my experience, are common sense and preparation, but, of course, you can’t wrap those in gift wrap. The next best personal protection devices are cell phone belt clip (your cell phone is of no use in an emergency, when you leave it in your purse or briefcase); a LOUD personal alarm (if nothing else, makes the bad guys’ ears hurt like heck!) and a belt-clip with a can of pepper spray, available at Defense Express, online at


Thomas Guide (map book) for their locale – For locating that new listing and being right on time for your appointments, almost nothing beats a Thomas Guide. Easy to understand formatting and indexing make this an invaluable tool for active real estate agents! Often available in bookstores and stationery stores, even from out of state, you can get a real estate a local issue at


GPS Unit – Most geocachers get into the sport to use techie tools, namely a GPS (Global Positioning System) receiver. I love my mid-price range GPS from Garmin, My Garmin eTrex Vista GPS has a larger screen (great for my old eyes), a very detailed basemap that really helps in my orientation to new locations, a terrific compass, and even an altimeter to tell me how far up I have climbed. It was very reasonably priced at around $275, and the sturdy case makes it a really great GPS!


Fun and Funny!


Talking Realtor Doll – Just for fun, this talking real estate doll sounds just like a Real Estate Agent eager to close on a “really big” sale. Press this doll’s belly and you hear the standard phrases of the trade…. “Do I have a house for you?”, “location, location, location!”, “The seller is motivated” and “Just needs a little TLC”. It is silly, funny and a great conversation starter for the real estate agent’s desk. 7″ high and so ugly it is cute, the real estate talking doll comes in male and female versions and is under $20 at Lawyer Jokes and Gifts, online at


Choose one or choose them all, and give the real estate agent in your life a great holiday gift, that they can use in their successful professional life for years to come!

Short Sales – Questions and Answers

Short sales are on the rise across California. Many people are becoming affected by it either directly or indirectly. To help give you a better understanding of short sales I have interviewed Chris Plumb who holds a California Real Estate Brokers License.

Tell me a little bit about yourself?

“For the past sixteen years I’ve served as a Mortgage Underwriter, Mortgage Loan Processing Manager, Residential Property Manager, Realtor, and Real Estate Broker. I’ve dedicated many hours to educating myself as a knowledgeable real estate professional. In today’s difficult real estate crisis it’s vital to have the knowledge to properly service homeowners and future homeowners. In 2009 I received the CDPE designation (Certified Distressed Property Expert). A CDPE is trained to help homeowners who have a mortgage in distress. In 2002 I received my B.S. degree in Business Management from the University of Phoenix. Because of the education I’ve received, I’m equipped to help clients with their immediate, short-term, and long-term real estate needs. High levels of customer service are important to me, and I strive to ensure that each individual benefits from my experience.”


What is a short sale?

“A short sale is when a lender is willing to allow a homeowner to sell their home for less than what they own on their mortgage.”


Why is there currently a rise on short sales in California?

“Short Sales in California are on the rise because of unemployment and adjustable rate mortgages. Until companies have the ability to employ new people, we will continue to see more short sales in California. But what is more alarming is the amount of adjustable rate mortgages that are due to adjust. During the real estate boom investors thought it would be a great idea to loan money to people for less than interest only payments. These loans were called pick-a-payment or option ARM’s loans. Basically a homeowner could pay less than interest only on their mortgage.


If a homeowner is paying less than interest only, the amount that would have been paid with an interest only payment then has to be placed on top of the loan balance. In most cases a lender will only allow this type of payment to be made for 5 years and then the payment skyrockets. Well…the rockets are going to burst in 2010 like fireworks on the 4th of July. Wells Fargo who bought Wachovia who bought World Savings currently has over 4,000 loans alone in the Sacramento region that is currently in trouble. It is projected that 14,000 loans in the Sacramento region with Wells Fargo alone will need a loan modification or short sale. As the Team Leader of Connect Realty Fair Oaks, I have prepared my team to assist homeowners who are in distress and we are aligning ourselves with Wells Fargo to assist these homeowners and other homeowners.”


Other than losing their home are there any other personal drawbacks?

“If a short sale is not property negotiated by a Real Estate Profession, a homeowner may be stuck with the difference between the amount due and what the amount the home sells for. In many cases a Real Estate Professional can negotiate with the lender that the lender waives their right to collect on the difference. It must be clearly stated on the short sale approval letter from the short sale lender that they waive their rights to the difference. If it does not state this on the approval letter, the lender has the right to collect on the difference.”


“In most cases the homeowner will be sent a 1099 for the difference. A homeowner needs to consult with a CPA or Tax Attorney to see if there will be tax implications.”


Can one person’s short sale negatively impact the surrounding community?

“A person’s short sale can have a negative impact on the community if the short sale lender sales the home for less than current market value. In most cases the short sale lender will not allow a short sale to be sold for less than 5% of the current market value.”


What can people do to avoid a short sale?

“A homeowner can avoid a short sale if their lender is willing to modify their mortgage by reducing their interest rate. Lowering the homeowner’s interest rate will reduce their mortgage payment. If the payment is manageable, the homeowner may be able to afford the new mortgage payment.”


Can anyone benefit from a short sale?

“Only a person in financial distress can benefit from a short sale. A loss of job, a divorce, and a loss of income qualify for a financial distress. If a homeowner is merely upside down on their home and can afford their mortgage payments, they don’t usually qualify for a short sale. Always consult with a Real Estate Professional who is trained to handle short sales to see if you can benefit from a short sale.”


Any advice for anyone who is facing a short sale or investing in one?

“My advice to someone who is facing mortgage distress is to consult with a Real Estate Professional that has earned a designation to assist distressed homeowners. I highly recommend working with a Real Estate Profession that holds the designation of CDPE (Certified Distressed Property Expert).”


For more information about short sales visit The Plumb Team website.

Will the Real Estate Market Get Better When a New President is Elected?

It is no secret that the real estate market in the United States has been on a decline. They are no clear signs that this will be changing in the near future. I’m sure that there are many Americans that would like to forget the past eight years that George W. has been in office. Everyone is hopeful that a new president being elected will help the economy and also help the real estate market in a positive way. Regardless, nothing is guaranteed. With what we know of the two front running presidential candidates, we can assume what effects they may have on the real estate market.

Republican candidate John McCain would rather see this situation pan out on its own without the interference of the government. He proposes that if there is any government assistance with the real estate problem in America, that it should not be permanent. The only possible permanent changes will be to the financial regulatory system. If there be any financial assistance to the public, he proposes that it only go to those owning one residence, in order to save their own home, not those with second and third mortgages. McCain has been open to suggestions for solutions in the real estate area, but has not made the issue part of his campaign on the grounds that he does not want to make any promises that would not be able to hold in the act that he is elected president.


The other front runner is Democratic candidate Barack Obama. He has proposed a plan for housing reform, which includes a system that is supposed to help with the well-known foreclosure issues. It talks about the federal government helping people with financial problems by refinancing existing mortgage loans or even possibly buying out those mortgages. He proposes changes of the regulatory system to keep closer a closer eye on financial institutions. He would also like to see those citizen’s who do have mortgages to be able to get better tax breaks.


The real estate issues in America are obviously very important to the public. Both front running presidential candidates recognize this. Where the two differ is on the amount of governmental involvement. Throughout U.S. history, presidential candidates have always addressed the issues that concern the public in their campaigns, but have not necessarily delivered, once elected to office. So even though Obama has made it clear what he wants to do with the real estate problem, does not mean that it will come to pass in the act that he is elected president. Republican candidate McCain has not taken a clear stance as to what he will do if he is elected, regarding the real estate issues, which is somewhat alarming. Regardless of which candidate is elected president, there is really no sure way to know what will happen with the falling real estate market in the United States.

How to Choose the Right Online Real Estate School for You

So you want to attend Real Estate School and you’re considering taking the pre-licensure course online. Congratulations. You’re lot only pursuing a career that could be very lucrative for you, but you’re choosing a method of learning that is very independent- just like real estate careers. You can take a 40-hour pre-licensure course on site at various schools, but taking classes online is a sure way to make sure that you’re focused at the task at hand without classroom disruptions. It is convenient and you can go at your own pace. This is also a great option if you’re moving to a new state and want to study and prepare for the exam before you move. Here are some tips on choosing the right online real estate school for you.

  1. Look for accreditation. You want to make sure that your state will hour the licensing class through the online real estate schools you’re considering. You can check your state’s department of labor for a list of schools although the list may not be complete.


  1. Choose a program with continuing education. If you plan to practice real estate, you’ll have to take a course once a year to stay on top of the latest changes in the real estate industry. Also, you may want to move up in the industry, such as becoming a broker. If the online school also offers other courses in addition to the basic real estate agent pre-licensure course, you’ll already be familiar with the school and the way they operate.


  1. Choose an online real estate school with exam preparation help. You will not only want to study the materials for the test, but you may want some extra assistance in preparing for it. Check with your candidate programs if they offer additional study services such as mock tests and study CDs.


  1. Choose a program with real assistance. You’ll want to have a way to reach real people if you are having trouble understanding the materials. Make sure you can reach out to an instructor via email or phone so you can get real live help.


  1. Shop around for tuition. There are a number of options available depending on the state where you live so shop around to find the best price. Prices vary at around a couple hundred dollars for the course. Balance value with quality.


Now that you’ve got these tips you’re ready to search the Internet for online real estate courses.

How to Cope with Real Estate Buyer’s Remorse

Real estate buyer’s remorse is more common than you might think. Making a large investment can cause anyone to second guess themselves, especially if you are a fairly new investor. “The best way to handle real estate buyer’s remorse is to deal with it preemptively. Know that it will occur, not that it might occur, after the transaction is complete,” said Richard Buck, a retired Coldwell Banker real estate agent.

If you’ve invested in a piece of real estate that you are having second thoughts about, here are some important things to consider.


  1. Know it will happen – Making a large investment will cause almost anyone to second guess themselves. The feeling is common among real estate buyers and new home owners.


  1. Be prepared – Prepare yourself for feelings of doubt by making a list of the reasons why you bought the property.


  1. It’s a normal feeling – You may be tempted to entertain thoughts about your ability as an investor because of your remorse. “Know that what you are feeling is normal and it will pass,” Buck said.


  1. It happens to everyone – Seasoned investors as well as new investors will experience buyer’s remorse. Know you aren’t alone


  1. If you are a new investor, you may be feeling overwhelmed. – Your remorse may be a feeling of being overwhelmed rather than actual remorse over the investment itself.


  1. Acknowledge the problems that the property has – If it needs a paint job, get one. If the hinges are squeaky, replace them. Fix the things that you know need to be fixed.


  1. Review your research – There are reasons you bought this property. What led you to pick this property? Why did you think it was a good investment? Remembering your initial reasons for selecting a piece of real estate can help you rid yourself of real estate buyer’s remorse.


  1. Have confidence in your abilities – Even if your confidence is shaken at the moment, remember that you are a talented and knowledgeable professional. Consider your track record for successful investments. Know that this investment will soon be on that same list of successes.


  1. Talk to other investors – Other investors can help you deal with your buyer’s remorse in a constructive manner. They have been where you are and can help reassure you that your investment was a wise decision.


  1. Keep your eyes on your goals – Remember that you purchased this piece of real estate for a reason. Remember your reasons and follow though with your plan. Your feeling of remorse will pass once you fully get used to the idea.


“Investing in real estate is a wise decision in any market,” Buck adds. Follow through with your initial plans and you will soon find that your real estate buyer’s remorse will fade.


Ten Helpful Tips for Real Estate Investors

It’s a buyers market, to be sure. How do you make your property attractive? How do you get around pesky zoning problems and inspection issues? In short, what do you do if you’re a real estate investor looking to turn a profit? Listed below are ten ideas that should help you get on your way.

1 Go large

One house isn’t going to make you rich. Try buying a block of properties, either commercial or residential. The more you purchase, the more you can turn. Also, it becomes easier to collect properties from the government if you offer to buy in bluk.

2 Don’t go it alone


It never hurts to have other investors to help saddle the burdon. You’ll find pretty quickly that your costs are not what you thought they would be, and other people might have more time and experience (not to mention investment capital) to put towards your project.


3 Talk to the government


Local and state governments are often times sitting on blocks of homes that are foreclosed on or just vacant. Many times these are properties they will not only be willing to sell you for next to nothing, but they might even help you get the money for the properties. Their angle? If you fix them up and sell them, people who pay property taxes will live there, thereby helping to offset the cost of the homes.


4 Look to the community


Many community agencies, churches and centers will know of or be sitting on viable housing opportunities. Don’t pass these by! Many will already have information lined up on grants and housing contacts, all you need to do is show a serious interest and be willing to work to a common end of having a property that people want to live in when you’re done.

5 Realize you don’t know everything


You’re probably not an expert carpenter, plumber, electrician or other necessary repairman that can magically make your investment work. Realize pretty early on that you will need help, and that outside contractors will need to be called in. Remember, you can do it yourself and waste time, or you can do it right and turn that property.


6 Don’t dawdle


The longer you sit on a property, the longer it becomes a black hole for your cash. Don’t commit to purchasing properties if you’re only going to put Sunday afternoons into it; be ready to dive in and get to work. The sooner it’s ready, the sooner it can sell.


7 Don’t shoot for the moon


You will not make a million on your first sell, so don’t act like it. Remember, the name of the game is long-term accrual, not get rich quick. You and your investors might see a return of $10,000 profit on a sale if you’re extremely lucky. This is why bulk buying is key.


8 Collect them all


Don’t look for one property; look for a dozen that are in close proximity. Buying a neighborhood is easier than buying one because the combined low value of the homes will help to drive them collectively down. Therefore, if you buy multiple homes and fix them all up, this will collectively raise the property value of the neighborhood, making it more desirable to a higher-paying clientele.


9 Go to council meetings


Get to know the City Council, and don’t act like a jerk when they tell you no. Present your zoning case and make sure you’ve consulted a lawyer before potentially wasting everyone’s time. Most council’s will be open to rezoning within reason (don’t expect a residential to magically go to M1 just because you said please), but it still may take some persuasion. Be calm, and also don’t be afraid to broach the subject before you buy. Sometimes they will bend just to see the property increase in value.


10 Don’t be bossed around


If you are trying to turn a property that you have rented out and have a problem tenant, remember that the tenant is not a permanent fixture. A contract is a contract, and if they are resistant to any repairs or changes you make, remind them that you, not they, are the one that owns the property. Also, don’t be afraid to step up the ante. If they won’t play nice, let them know immediately where you stand with small claims court. Most people won’t take the time or money to push any issue past that basic threat.


For more information, try the following helpful sites: