Escapeso Austin Real Estate asked:


First off, watch some late night infomercials on TV. And possibly order some real estate tapes from Carlton Sheets. This will provide you with a positive upbeat attitude and a sense of false confidence that is essential in order to go bankrupt. Believe that after listening to some tapes, you can compete with people that have done this 7 days a week for years.

Second. For your first investment, buy in a city you know little to nothing about and avoid using a buyers agent who does know the city. Go directly to the sellers agent. The best way to make a truly horrible decision is to avoid any outside advice. The best part of this is that avoiding a buyers agent usually doesn’t save you any money since the selling agent simply makes more when you deal with them directly.

Look for a discount or a distressed property over a good long term investment. Late night infomercials and Carlton Sheets talk a lot about this. Getting equity at the point of sale. One thing about distressed properties with desperate sellers is that they frequently are in crappy areas with low appreciation rates. Buying a property at under market rate in an area with low appreciation potential versus a property in a good area is the kind of short sighted thinking that will really help you reach the goal of bankruptcy and foreclosure.

When you talk to people including your realtor, try to spend time talking about all the crap you learned from your book or light night infomercial. The more you listen to other people, the more you might get different perspectives and the higher chance you might learn new things. This could really hurt your chances of going bankrupt so avoid listening to anyone. Remember you know everything even if you only got interested in real estate last week.

Be positive to the point of stupidity. Alot of investors I know always think about how their situation would be affected by a 10 or 20 percent drop in the market before making a purchase. You should avoid this kind of thinking. You need to be blinded by greed. You should only fantasize about how you are going to double your money.

When calculating your monthly cashflow, assume that you will have 100% occupancy all the time and no maintenance cost. While you are at assume that its going to rain money tomorrow.

Also, be stubborn when renting your properties. Decide upon a number say $900 a month and refuse to budge. Come up with some bizarre logic about how the property deserves $900 a month. Lose months of rent having the property sit vacant instead of going down $50 on the rent. Instead of responding to the market make statements like “Well the markets wrong then”.

As you move closer to foreclosure, don’t alter your spending habits. Don’t move into a smaller house or cut spending. Act like nothing is wrong.

Overextend, overextend, overextend. Are you approved to buy one house. Why not buy 5, heck why not 20. Instead of building up a portfolio of properties over time, gaining experience along the way, just buy alot of properties next Tuesday.

Alot of people are getting into the foreclosure game. Their is no reason you should be left behind. Throwing caution to the wind and filling your eyes with greed and you should find yourself walking down the golden path to foreclosure.

This is not a definitive guide to foreclosure. Alot of people end up in foreclosure due to many things unforeseen events like unpreventable family illness, divorce or job loss. This is simply a guide to what I call elective foreclosure.



DORSEY

sonybmg asked:

Cypress Hill Real Estate from the album Real Estate
(C) 1992 SONY BMG MUSIC ENTERTAINMENT

EDWARD

mantastic86 asked:


I want to break into the real estate developing field. I have a 4 yr college degree in political science. Please tell me any sites or real estate developing firms in tampa, florida where I can apply? I also bought some land and want to build on it someday. How and where do I get started?

FLOYD

Irish07 asked:


But i need to first find a Real Estate Agent/Realtor. I dont want to list my home for sale with those big companys that charge you 6% commission since i might be taking a loss by selling, so the less i loose the better i am. Do you have any reccomendations on choosing a real esate agent and what is the diffrence between a realtor and a real estate agent? Any questions i should ask when choosing one? Any help is apprecieated.

ELISEO

petersruby20 asked:


I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow).

Apparently my tax payments will be paid out of escrow in April, May and August of 2008.

Does that mean that I can not claim real estate for my 2007 return?

(At closing, I did have to reimburse the seller for real estate taxes he had already paid up to Dec. 31.)

CARTER

ziggystarr1 asked:


I work at a dead end job. I want to quit and get into real estate. I know there is a lot of potential in that field. How does one get started? Is selling houses difficult? What are the requirements? What do real estate firms look for in a potential employee?

EFRAIN

Team Hall asked:


I want to get my license to do commercial and residential real estate apprasials, but I am worried about the current real estate market. Is this still a good career to pursue, or is the market really ending for this type of business? How much money do appraisal workers make annually? Thanks for any info!

DAMION