How do I market houses for sale on a tight budget?

This week on AskMike Mary from Colorado wrote in and asked what is the best, most economic way to market houses for sale on a tight budget?  Mike spends a few minutes answering this describing how you can do this at no charge (requires more of your time) or you can outsource overseas or to a virtual assistant for pennies on the dollar.  There are many resources out there available to you to help you achieve this task.

Did you miss last weeks’ video on “Is Wholesaling Properties a Valid Strategy In Today’s Market?” Click that text to view the video.

If you have any questions about real estate investing, deals you are working on, etc. and would like to have them answered, just click the AskMike link and send them in.  Mike will address them in an upcoming video. Thanks and happy investing.

UPDATE: Many of the viewers of this video have asked for a copy of the websites that we post to. Click the following text for The Top Real Estate Sites to post your properties on.

Thanks,
Mike

Short Sale Deal Case Study – Part 1

This week on AskMike, Mike Moulton takes you on a ride in his MDU (Mobile Deal Unit) on the streets to a real estate deal that he is working on that requires a short sale.  Mike discusses the deal overview on the way to the property and then debriefs afterward.  This is an interesting deal because the loan is in a deceased borrowers name.  Watch the video below for the details and see the numbers of the transaction below.  Mike will introduce new videos as the deal unfolds.  A special thanks to Tim from California for writing in and asking us to walk through a deal.

Here are the high level numbers for the deal (I update to more precise digits in a later video as we work the deal):

House value in market condition = $185K

Current mortgage balance (1 loan) = $176K plus a few back payments, interest, etc.

Estimated Repairs (carpet, paint, appliances, blinds) = $6K

Our offer to the lender = $130, 562 (we always offer a “calculated” number, not rounded off). Generally we take about 85% of what we think the BPO (broker price opinion) or appraisal would be, then 85% of that number (approximately).

If you missed last weeks video on “Can a Foreclosure Be Reversed Back to A Short Sale” then click the linked text.

Also, if you have a question you’d like answered, please visit our contact us page and submit it to The Sharp Investor.

Take Care and Happy Investing!

Mike

Can a foreclosure on a property be reversed back to a short sale?

This week on AskMike, Mike Moulton discusses a recent real estate deal involving the reversal of a bank foreclosed house back to a short sale status.  Mike discusses the deal overview, the lender involved, and the current status of the deal.

Thanks to Pam from Michigan for writing in.

Be sure to leave your comments below this video. Also, if you missed last weeks’ AskMike video on How To Convince Private Lenders To Loan On Your Deals In This Market then be sure to click that text as a link to view it.

Got a question for Cortney and Mike?  Submit it HERE.

Take care and happy investing, thanks for watching!

Mike

How To Convince Private Lenders To Loan On Your Deals In This Market

Welcome to AskMike, the weekly real estate investor video tips and tricks series on the latest strategies that working in today’s economy.  This week Rick wrote in from Texas and asked us what are the best ways to approach and convince private lenders to loan us money to fund our real estate deals in this market?  There is so much negativity in the media and everyone is not spending or lending now.  Well Rick, now is actually the perfect time. Checkout the video below as to why and what you need to do to approach these guys…

Be sure to leave your comments below this video. Also, if you missed last weeks’ AskMike video on How To Market Houses On A Tight Budget then be sure to click that text as a link to view it.

Also, if you are interested in raising private money to fund your real estate deals checkout the Ultimate Private Money Solution website.

Got a question for Cortney and Mike?  Submit it HERE.

Take care and happy investing, thanks for watching!

Mike

Effective Real Estate Investment Strategies In Today’s Market

This week I answer a question from Mary from Wisconsin (definitely not a “cheesy” question .  Her question was the second question we’ve had in the last few weeks on what real estate investment strategies are working in today’s market. I discuss buying wholesale and selling discount retail and how this works with any marketing strategy.

Be sure to watch the entire video because at the end I provide information on how to attend an 8 hour internet bootcamp at no charge on this topic.  We are putting on this event with Judson Voss of GetRealREI.com.

If you missed last weeks’ video on my Short Sale Deal Case Study – Part 1, then be sure to click the text to see it.

Also, if you have a question that you would like addressed on AskMike, be sure to visit the Contact Us section and send it in.  We will do our best to answer it on an upcoming episode.  Of course we prefer real estate related questions.  I did have someone ask me if my eyes were blue once.  I do like questions about the topic of “me” but probably better to stick with real estate.

Take care and happy investing,

Mike Moulton

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