Denver Real Estate Resources

If you are treating your real estate investing as a serious business, which I recommend that you do, then it becomes clear very quickly that you absolutely must keep accurate accounting and up to date records for various aspects of your business. Just as importantly, you must backup this data EVERY DAY.

If you are a new investor, you may not think that you'd acquire much data when working on buying properties, but you'd be surprised to see just how often you end up going back to a particular motivated seller file to see what you discussed when they called 3 months earlier. Compound this type of data with all the follow up notes you have and you will quickly realize that you have dozens of complete Seller Property Information Files which took hundreds of hours to compile and put together in a fairly short amount of time. Unless you want to do all that work over again each time you have a computer or technology hiccup, I strongly encourage you to

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A very effective, yet often overlooked method of marketing both your rentals and your houses for sale is door to door flyers in the neighborhood of your property. Residents who live near your property are likely to know someone - a friend, colleague or family member in the market for housing that they can pass your flyer on to. You may also attract the direct attention of a neighbor who is ready to buy or move up/down in their housing.

If you are local and don't mind running around the neighborhood yourself, this method will only cost you a few hours plus the cost of printing. If you're not available for the distribution, or just have better things to do, paying someone to distribute flyers is very cheap and incredibly cost effective if it results in a sale or a qualified tenant placement. Just remember to do a quick drive through of the neighborhood to ensure the flyers have been distributed if you're paying someone to do it.

As for the content of the flyer,

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In our system for working with motivated sellers, we break the entire process down into the following categories:

• Initial Call or Initial Call Back
• Research
• Make Offer
• Offer Made - Follow Up
• Under Contract To Buy
• Bought It
• Rented
• Sold

Today, I am going to discuss, briefly the first category and that's the initial call or initial call back depending on how you are handling your incoming motivated seller leads.

In this step, we are talking to the seller for the first time about their property and starting to gather the information we will need in the research step as well as building rapport with the seller so that we can have a successful negotiation and make an offer that solves the sellers problem and adds value to the marketplace.

I suggest that everyone

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Vacancies are costly. Likely you are paying a mortgage on your property and certainly you're paying taxes and insurance while your property is unoccupied and not producing income. Additionally, you have marketing costs to get your unit rented, or you are anticipating paying a portion of the first month's rent to your property manager or a tenant placement service. Bottom-line: money is tight when you have a vacant unit and you may be tempted to cut corners on the fix-up work to get your place rented.

This is almost always a mistake. A property in poor condition is going to sit on the market for much longer. If you are in a slow rental market with lots of competition, then it's even more important to make your property stand out as a desirable dwelling by paying attention to the major areas that will attract or repel potential tenants. The primary areas that you should focus on are:

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I hope everyone had a great Thanksgiving and are ready to get back to their real estate investing well fed, well rested and very grateful.

The free real estate course download for this week for those that start and finish a Learn To Be Rich™ game this week is Volume #8: Setting Up Your Lead Management Systems.

This course goes over the steps on how to actually set up your real estate investing lead management system. If you are new to the business and want to jump past folks that have been in the business for years by implementing a proven, well documented system for handling motivated sellers, then this is the real estate course for you.

We normally sell this audio CD for $24.95, but you can download the entire audio CD as MP3 audio files for free this week for playing a complete game. Just login, start a new game and finish that game before Sunday, December 7th, 2008 and on the end of game summary page, you will find a link to the download.

The download link will disappear after Sunday, December 7th, 2008 so download it immediately.

If you miss the deadline or would rather purchase it on audio CD, you can do that using the order button below.

Sincerely,

James