Today’s nothing down and creative real estate strategies are among the most cutting edge in the industry.

Yet it still amazes me how frequently investors make the same common mistakes. If you can avoid these mistakes, your success can be beyond your wildest dreams n this business.

1) Books and tapes don’t work n their own, it takes a will more support than that. Be realistic about this.

2) You can always offer too much. Don’t’ be afraid to make low-ball offers.

3) Simplify the process of evaluating deals strictly by the numbers.

4) Don’t let fear paralyze you. It is a huge time waster.

5) Don’t make offers to unmotivated sellers, only those who have a real reason to sell not just a “want” to sell.

6) Don’t let the paperwork get in your way.

7) Use multidimensional marketing, not just one method.

Have a follow-up system.

9) Ask for referrals. Many real estate investors double their business this way alone.

10) Don’t miss good opportunities while driving to and from the deals you are on your way to look at. Long grass, and bad for sale by owner signs are a dead give away.

FAQ

Is a sandwich lease option legal?

Absolutely! In fact it is a tremendous way to build equity quickly when a seller ahs some equity they can give. You negotiate with the seller to give you substantial credits toward your purchase price each month and build equity fast. On the flip side, you can give some credits to your buyers. On the selling side I usually limit credits to the first 12 months, but if they continue after 12 months the rent stays the same, but credits stop.

Is it true that options investing is changing due to new HUD regulations?

Yes it is. And to the informed investor you can take advantage of these changes, while many are practicing older methods. These older methods may cause problems when it comes time to selling your property, if your buyer is using an FHA or VA loan. The lenders simply may not close if you have held the property less than 90 days. There are some new strategies take care of this by creating a single escrow that works like a double escrow flip, but without the usual problems.

Are land trusts dead, or just changing?

Land trusts will likely be with us for a long time. However, their applicability may change under these new regulations. Knowing when to use is the key. Frankly, it is not that complicated once you have a basic model to follow.