Archives for: November 2008
Tucson Discounted Property: $19,667 Per Bedroom
November 29th, 2008I want to share with you some information about a property in Tucson located at 9474 South Vicki Dr. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
Since this 3 bedroom, 2.00 bathroom property has an asking price of $59,000, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.
| Price Paid (% of Asking Price) | Price/Bedroom |
| $70,800 (120%) | $23,600/bedroom |
| $67,850 (115%) | $22,617/bedroom |
| $64,900 (110%) | $21,633/bedroom |
| $61,950 (105%) | $20,650/bedroom |
| $59,000 Full Price | $19,667/bedroom |
| $56,050 (95%) | $18,683/bedroom |
| $53,100 (90%) | $17,700/bedroom |
| $50,150 (85%) | $16,717/bedroom |
| $47,200 (80%) | $15,733/bedroom |
As you can see from the table above, if you know that rents in Tucson can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Are you an active wholesaler in Tucson? If you are, or you are considering wholesaling some deals, then you might be interested in Wholesaling Volume 3: Finding Deals by Jassen Bowman. Find out what to do with disteressed properties, junker houses and vacant houses as you look for great deals to wholesale in your local market.
Until next time,
James
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Tucson Housing: $44,333 Per Bedroom
November 28th, 2008Here's another Tucson property that was submitted by a user that we will use as a teaching tool for our Tucson, Arizona Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 7199 S Pebble Shore Dr, Tucson, AZ 85757.
Since this 3 bedroom, 2.00 bathroom property has an asking price of $133,000, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.
| Price Paid (% of Asking Price) | Price/Bedroom |
| $159,600 (120%) | $53,200/bedroom |
| $152,950 (115%) | $50,983/bedroom |
| $146,300 (110%) | $48,767/bedroom |
| $139,650 (105%) | $46,550/bedroom |
| $133,000 Full Price | $44,333/bedroom |
| $126,350 (95%) | $42,117/bedroom |
| $119,700 (90%) | $39,900/bedroom |
| $113,050 (85%) | $37,683/bedroom |
| $106,400 (80%) | $35,467/bedroom |
As you can see from the table above, if you know that rents in Tucson can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
By the way, did you know that Jassen recorded an audio CD about his favorite real estate investor lessons. If you are interested in checking that out, you can view information about What My Favorite Real Estate Guru Taught Me About Investing.
Sincerely,
James
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Successful Real Estate Investors Do Their Most Important Task First
November 28th, 2008If you've been in business for any length of time, you'll find that there are more things to do then can be done in any given day, so you absolutely must prioritize to become a successful real estate investor.
The 80/20 rule, also called Pareto's Principle, tells us that a large percentage of our success is dependent on the significant few things. The general idea of the rule is that 80% of your results will come
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4 Ways To Get Others To Find Great Real Estate Deals For You
November 27th, 2008Here are 4 amazingly simple ways to get others to find great real estate deals for you.
First, and this is an obvious one, hire a real estate agent or broker to scour their multiple listing service (MLS) and only bring you the deals that meet your very specific criteria. The overwhelming majority of real estate agents and brokers are paid only when you buy or sell a property using their service. They can look through the inventory they have access to and share with you the ones that meet you very specific needs. Then, when you find one that works for you, you buy it with that real estate agent or broker. You get a great deal and they earn a commission.
Second, find
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Why You Should Not Pre-Screen For Motivation On The Phone
November 26th, 2008Many real estate investors lose out on an untold number of real estate deals by pre-screening too much on the telephone. Far more real estate investors pre-screen too much even before the first phone call, but that's a topic for another day. Let's discuss why you should NOT pre-screen for motivation on the phone if you want to buy more deals, with better terms and at better prices.
Are you the type of guy or gal that asks/asked if they're going to get an
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$51.15 Per Square Foot in Tucson
November 25th, 2008We just had a researcher submit some very basic information about a house for sale in Tucson to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for Tucson, Arizona Real Estate Resources is located at 5455 South Bonney Ave, Tucson, AZ 85706.
I am going to do do some calculations on this Tucson property. It is a 2 bedroom, 1.00 bathroom property located at 5455 South Bonney Ave that has an asking price of $39,900.
| Price Paid (% of Asking Price) | Price/Square Foot |
| $47,880 (120%) | $61.38/square foot |
| $45,885 (115%) | $58.83/square foot |
| $43,890 (110%) | $56.27/square foot |
| $41,895 (105%) | $53.71/square foot |
| $39,900 Full Price | $51.15/square foot |
| $37,905 (95%) | $48.60/square foot |
| $35,910 (90%) | $46.04/square foot |
| $33,915 (85%) | $43.48/square foot |
| $31,920 (80%) | $40.92/square foot |
As you can see from the table above, if you know what a typical Tucson property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Cash Flow is the life blood of every business and real estate investing in Tucson is no different. You need cash flow in your business to pay for business expenses like marketing to buy houses, holding costs when selling or renting properties, paying yourself a salary and more. So, I think you'll get a lot out of Jassen's real estate course Cash Flow is King: Ways To Drastically Improve Cash Flow Investing in Real Estate.
Until my next post,
James
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Collecting Property Information with a Property Information Sheet
November 25th, 2008If you are using a blank sheet of paper or, even worse, scraps of paper to jot down information about potential properties when you are talking to potential motivated sellers on the phone for your initial call, shame on you!
You should be taking down all the information about the property and sellers in an organized fashion. If you do not have a Property Information Sheet to use to gather this information for your own real estate investing business, then get one or, as a last resort, make your own and use it for every call.
Most of the information you'll gather is
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Talking to Motivated Sellers - The Initial Call
November 24th, 2008So you've put out some marketing and had some potentially motivated sellers call you. Whether you are taking the call live or returning the call from a voice mail message, here is a big picture overview of the process for talking to motivated sellers for the first time.
First off, do not... I repeat... DO NOT... research the deal before you talk to the seller. Get back on the phone with the seller as quickly as possible and without doing ANY work on the file before you call. There will be plenty of other areas to procrastinate where it is to your advantage to do so... this should NOT be one of them.
If you can, take the call live from motivated sellers. If not, return phone calls as soon as you can.
For this initial call, you will want to
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