Negotiating

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Just a post i read over at reiclub that is good information about negotiating a deal. There is an old saying “You don’t make your money when you sell the home, you make your money when you buy”. From my experience that statement is about 50% true. Your ability to negotiate can end up playing a huge role in how much money you will make on a deal. Learning how to negotiate with sellers and buyers will be one of …

Reader, Twitter and Investor Words to Live By

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I discovered Google Reader today, which is great for keeping track of all your RSS feeds (Blogs and news sites). So spent the morning messing around with that, it’s great and will allow me to read all my blogs in one spot. I also messed around with twitter for a little bit, looks promising but I just have to figure out how to effectively use it to help me network. That’s about all I did today, so I’ll leave you …

Bubble Bobble we all fall down

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I came across this today and wanted to share. It is about how housing and the economy are intertwined and what is actually happening now that is causing the housing bubble to burst. If you are interested in real estate investing this is a must read. Bursting Bubble

BP Rev 1

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I finished my first revision of my Business Plan yesterday. There are some parts I’m not sure of, for instance do I write it if I was a company? I used Costello Home Buyers. Or should I write it in the first person? If anyone out there can lend me some advice that would be great! I will say it does really make you think about what you are getting yourself into. To write a complete business plan you have …

I forgot it was sunday!

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I usually have baseball games from noon to 5 on sunday (I pitch), but yesterday the games were canceled. I found this out Saturday night so I was like cool I can spend some time with my wife before she goes to work, which I did. As usual on Sundays I went to my mom’s house for dinner and she asked me if I had gone to any open houses today because she noticed a lot of them. DOH!! I …

Lack of Lazines

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Lack of motivation is one of the hardest things in life to overcome for me and I’m sure a lot of other people. I constantly struggle with getting myself to do things from taking out the garbage to exercising. Hell sometimes I will put a glass in the sink instead of taking that ONE extra step to put it into the dishwasher!?!? Why is that? I wish I had an answer. What I have learned in my 31 years is …

Business Plan – Part 2

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I’ve continue to work on my business plan and here is the next part that I’ve gotten to II. Market Analysis Summary Costello Home Buyers invests in distressed residential real estate. The main target areas will be those areas that are in high demand by first time home buyers in the Morris County area. These areas are Morristown and Morris Plains to name a few. They have stable resale values yet provide sufficient amount of opportunity. Once the target property …

Business Plan – Part 1

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If anyone has any suggestions I’d be thankful! A. Company Information Costello Home Buyers was formed in July 2008 to benefit from distressed property owners in the Morris County. We are a company that specializes in purchasing properties from motivated sellers in order to wholesale them to rehab investors and landlords. Costello Home Buyers is owned and managed by Scott Costello. B. Management Information Scott Costello has little to no experience in real estate investing but has spent countless hours …

Extra Money

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In my effort to keep my family’s money (the money made by myself and my wife at our JOB) free from any investing I’ll be doing, I took on some part time work. I’ll be doing some CAD work for his fire protection company. It basically requires me to draw the floor plans and show where all the extinguishers, stairs, emergency areas, etc… will be. I had never used AutoCad for much of anything, so it’s going to be a …

What Is My Focus?

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Jared from FlitItBig asked me a good question in his comment to a previous post. He asked “What area are you looking to invest? Buy and hold? Wholesale? Rehab and flip?” This is a very important question to answer before I get started, I mean how can you write an effective business plan if you don’t know your exit strategy right? My focus will be on wholesaling. From my research this is a good entry point into the real estate …

business plan

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I’m a big fan of the way Steve Cook handles his business. He preaches to always do things on the up and up. I decided to buy his Wholesaling course to help give me direction. I also purchased his Business Plan template with the Secret Sauce to help me develop my business plan. From what I’ve read so far it is amazing, it orders your thoughts and priorities and I recommend it to anyone wanting to get into the business. …

paralysis by analysis

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In my first post a few days ago I just wanted to get out all the thoughts and questions I had running through my mind. Now I will get down to business. I’ve been educating myself for over a year now in Real Estate Investing techniques and strategies and have still yet to take action. I know I know enough to get started but I just don’t know where to get started. I have all this information in my head, …

Questions

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How can I shield my family’s money/assets from my Investing? Where do I start? Marketing or Finding buyers or Building my team(title companies, lawyers, realtors, etc)… How much money is it going to take to market? How am I going to know the repair costs of a house? Will I be able to find a buyer for a property I acquire? Will wholesaling work in my higher priced market? How well do you have to know your target area before …