by B. Lee
Pros: inexpensive, huge asset for nothing but a signature
Cons: need good credit, must choose wisely, must find tenant quickly,
I was a first time homebuyer when I bought my first investment property. Banks love first-timers. They have a myriad of different programs to get buyers into their first house. Most banks will bend over backwards for them. With meager credit, I qualified for a brand new house with no money down, super-low interest rate, and $5,000 in equity, just for signing on the line. That was the fastest $5,000 I have ever made.
The catch is that first timers must buy the house as an owner-occupant, meaning the owner must intend to live in the house. This requirement, however, can be a blessing. Finding a good tenant can take some time, but if you are living in the house you won’t incur any additional expense. I lived in the house long enough to qualify myself as an owner-occupant and find a tenant to take my place. When I found a tenant, I moved into a rental apartment 1/4 the size of my house and 1/2 the monthly payment.
If you are not a first time homebuyer, there are other ways to get a property for nothing down. A creative mortgage broker can show you loans that cover the price of a home plus improvements. These brokers use creative financing to arrange a payment plan with no money down. Another method is to take over payments for an owner to get them out of a sticky situation.
It is very important to choose your property wisely. This is especially true if you have a very small margin for error in your finances. Find a good realtor who deals with a lot of investors. They will be able to help you find a property that will cash-flow immediately, meaning that the rent you receive will be enough to cover the mortgage, insurance, taxes, maintenance, vacancy fee, and all other expenses related to the property.
Don’t get sucked into the idea that you are going to make up for negative cashflow with capital gains. This is a recipe for disaster. If it doesn’t cashflow, it isn’t passive income. In fact, it’s a passive expense. There are plenty of properties out there that will cashflow, so take the time to find one.
Thursday, January 27, 2011
Tuesday, January 18, 2011
Work Hard and Prosper Online
by Kris Beus Kris Beus
When you join the online world in the hope of being able to become rich there are a few things you should be aware of. The first and most important thing I tell my blog readers who are trying to find ways to make money free is nothing including online money comes free they must work their butts off if they would like to succeed online. When asked "how much work does it take to succeed online?" I usually respond an endless amount because when you stop working your website stats will suffer. This may be disappointing to some, but if you work hard and earn the top spot within your niche (category of website) the work load will decline. The reason for this is when you first build a website or blog you have to catch up your backlink count and content with websites that have been online for years.
Once you have your backlinks and content up with your competitors no longer are you trying to catch up you are now keeping pace. The workload to keep up with your competitors in my experience will take around 20% of the work it took to catch up with your competitors. There are some different ways to stay up with your competition and they do not always mean working hard.
The main way I keep up with my competition is through content and backlink creation. Doing this everyday at least a little bit will keep me in the first page of Google SERPs (search engine results pages). I have been thinking of ways which to beat my competition and though I can out work them it would be much easier to out think them. Through different social networking websites such as my internet marketing forum I have learned ways to brand my website becoming the authority which helps when I need links I create new content and it is automatically linked to.
Twitter is another excellent platform to learn the newest ways to market a website since I can look at those internet marketers that I admire so much. I have also been following some of the internet marketing leaders through their blogs. I really enjoy such blogs as problogger.net, seomoz.com, and seobook.com if you keep up with these three then you will know of the top ideas coming out within the internet marketing niche. It is also a good idea to keep up with social marketing and to do this I make sure to read out everything new on mashable.com. Anyway this is the best way to stay ahead or at least on the same level with your competition.
Before we end I would like to suggest some courses of action if you have the time to complete these then your website will be much more successful for it. The first is setting a backlink number and following through. Personally I try to build 50 backlink each and every day using many different platforms. You should also understand that content creation drives the internet so creating content at least one article a day is a must when trying to compete online. You should also attempt to network as much as possible with the social networking sites. Personally I really try to find those within my niche and become friends in Facebook or Twitter then when I need to promote through guest post I have friends which I can count on. If you keep these basics your online marketing campaign will be a success just remember nothing comes easy it takes blood, sweat, and tears.
When you join the online world in the hope of being able to become rich there are a few things you should be aware of. The first and most important thing I tell my blog readers who are trying to find ways to make money free is nothing including online money comes free they must work their butts off if they would like to succeed online. When asked "how much work does it take to succeed online?" I usually respond an endless amount because when you stop working your website stats will suffer. This may be disappointing to some, but if you work hard and earn the top spot within your niche (category of website) the work load will decline. The reason for this is when you first build a website or blog you have to catch up your backlink count and content with websites that have been online for years.
Once you have your backlinks and content up with your competitors no longer are you trying to catch up you are now keeping pace. The workload to keep up with your competitors in my experience will take around 20% of the work it took to catch up with your competitors. There are some different ways to stay up with your competition and they do not always mean working hard.
The main way I keep up with my competition is through content and backlink creation. Doing this everyday at least a little bit will keep me in the first page of Google SERPs (search engine results pages). I have been thinking of ways which to beat my competition and though I can out work them it would be much easier to out think them. Through different social networking websites such as my internet marketing forum I have learned ways to brand my website becoming the authority which helps when I need links I create new content and it is automatically linked to.
Twitter is another excellent platform to learn the newest ways to market a website since I can look at those internet marketers that I admire so much. I have also been following some of the internet marketing leaders through their blogs. I really enjoy such blogs as problogger.net, seomoz.com, and seobook.com if you keep up with these three then you will know of the top ideas coming out within the internet marketing niche. It is also a good idea to keep up with social marketing and to do this I make sure to read out everything new on mashable.com. Anyway this is the best way to stay ahead or at least on the same level with your competition.
Before we end I would like to suggest some courses of action if you have the time to complete these then your website will be much more successful for it. The first is setting a backlink number and following through. Personally I try to build 50 backlink each and every day using many different platforms. You should also understand that content creation drives the internet so creating content at least one article a day is a must when trying to compete online. You should also attempt to network as much as possible with the social networking sites. Personally I really try to find those within my niche and become friends in Facebook or Twitter then when I need to promote through guest post I have friends which I can count on. If you keep these basics your online marketing campaign will be a success just remember nothing comes easy it takes blood, sweat, and tears.
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