Channel 4 TV Programme Supports Romania’s Investment Promise

Writen by Peter Stilgoe

A Channel 4 TV programme, A Place In The Sun, hosted by overseas property expert Amanda Lamb, recently listed Romania in its top 20 of the best locations to invest your money in property. The popular TV show claimed that house prices in Romania are expected to soar four fold over the next 10 years as the country’s economy gets a boost following inclusion into the EU.

At the moment, you could buy an average house in Romania for around

Selling Houses: Psychological Effects of Landscaping

Writen by Jeanette Joy Fisher

Buyers think they care more about the inside of the house than the landscaping, but in reality, most buyers won’t even get out of their car if the front landscaping lacks the promise of great details inside. Therefore, your landscaping needs to arouse buyers’ expectations and entice them into viewing the inside of your home.

When marketing your home, you’ll get the highest return for your landscaping dollar when you employ Design Psychology tactics. Design Psychology is based on scientific research into the underlying psychological effects of design on buyers, and these innovative design ideas will help your home sell quickly, and for more money, by influencing buyers’ emotions.

Foliage Colors

Begin by coordinating the colors of your flowering foliage. Think about your selling season and plan for flowering plants that perform well during that time. Also give thought to the desired atmosphere and use plants to support that concept. For instance, tropical, desert, forest, and beach environments all differ in plant types.

Use a lot of green and white in your color scheme. Green conjures feelings of coolness, freshness, and vitality, while white flowers also suggest cleanliness, and show up better at night, when many buyers will be looking at houses. Since yellow is the first color our eyes process, yellow flowers by the front door attract the buyer’s eye from a distance.

Appealing to Buyers’ Sense of Smell

Give thought to the overall scents of flowering trees, bushes, vines, and flowers in your yard, and take advantage of plants that support the desired emotional outcome. Lemon scented geraniums add refreshing scents that contribute to a desert oasis feel, for instance, while jasmine adds a tropical feeling. Rosemary and French lavender enhance Mediterranean style settings.

Adding amenities for emotional support

An alluring appeal begins with the access to your home. If you have no dedicated walkway to the front door, add a simple pathway. A wandering pathway to the front door psychologically feels better than a straight shot walkway. If you have a plain, straight concrete walkway, create undulating flower beds on either side to encourage a relaxed, friendly feeling. Adding a water feature also enhances the ambiance, because moving water relaxes the body and mind and refreshes the spirit. You want to create a feeling of balance and harmony, like that found in nature.

Start on the landscaping before working in the interior of the house, in order to give plants time to grow, and make sure to plant the areas away from the house if you’re also planning to paint the exterior. You don’t need to go overboard. Just plant enough to give an impression of healthy growth and to lead a buyer’s attention away from any barren spaces through the use of focal points in the landscape.

Another reason to start on the exterior is to motivate your neighbors to also begin sprucing up their properties, because having your entire neighborhood look good greatly enhances the value of your own property.

Well conceived landscaping gives you the advantage when it comes to selling your house. If your home makes buyers feel good while they’re on your property, you’ll sell it quickly, and for top dollar!

c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm

Home Buying Q&A: Do I Need a Home Warranty?

Writen by Brandon Cornett

What is a Home Warranty?
A home warranty is a policy that covers repair and replacement costs for failed appliances and systems within a home.

Who Purchases the Warranty?
This usually depends on the purchase agreement made between the home buyer and seller. Either party can purchase the warranty. The two parties can even share the cost. Regardless of who pays for it, the warranty is usually purchased during the closing process (also known as “settlement”).

How Much Does it Cost?
Cost will vary based on coverage and other factors. Most home warranties are in the $400 to $600 range. When the initial policy expires, there’s usually a renewal fee as well.

What Will the Warranty Cover?
Home warranties vary quite a bit. So it’s important to ask a lot of questions and read all the fine print before purchasing one. With that said, here are some of the common items covered:

* Heating and cooling systems
* Plumbing systems
* Electrical systems
* Major appliances
* Garbage disposals

What Isn’t Covered Under the Warranty?
It’s important to understand that a home warranty is not hazard insurance. Hazard insurance (sometimes referred to as disaster insurance) covers your home in case of earthquake, fire, hail, etc. Home warranties cover home systems and appliances that fail.

How Long Do Home Warranties Last?
Most are effective for one year. After that, you have the option to renew the policy. Find out in advance how much it will cost to renew, because renewal is sometimes more expensive than the initial cost of the policy.

Should I Buy a Home Warranty?
In truth, only you can answer this question. The home buying process might drain your cash reserves, so a major repair could put you in a financial bind. In such cases, a home warranty will give you coverage and peace of mind.

Age is also a factor. An older home with systems at or beyond their life expectancy would be a good candidate for home warranty protection. But a brand new home might already have coverage provided by the builder.

If you do decide to purchase a warranty for your home, be sure to shop around and compare prices. Find out what’s covered, how long the policy is, and how much it costs to renew. Be a smart shopper.

* Copyright 2006, Brandon Cornett. You may republish this article if you keep the byline and author’s note, and also leave the hyperlinks active.

Learn more!
To learn more about the home buying process visit HomeBuyingInstitute.com, the Internet’s largest library of home buying advice. Visit: http://www.homebuyinginstitute.com today!

Idaho Real Estate A Better Quality of Life

Writen by Raynor James

A mountainous state, Idaho has become a popular destination for families and outdoor enthusiast. If you’re considering Idaho, here’s a primer on the state and Idaho real estate.

Idaho

For backpackers, river enthusiasts and rock climbers, Idaho is frequent destination. With a mountainous profile, the state is a haven for river rafting, fishing, rock climbing and pretty much any outdoor activity. In addition, the state has a relatively small population and prices are reasonable compared to many more well known states.

Boise

Located in southwestern Idaho, Boise is the city with the small town feel. A virtual secret for years, the city is gaining notoriety and residents after continually being ranked as one of the ideal small cities in the United States by numerous publications. Home to Boise State University, Boise is a modern city with a small town feel. Tired of high real estate prices, Californians in particular have been relocating to the city. Of course, this means prices are going up, but it also tells you the city is worth your consideration.

Idaho Falls

The falls have been dammed up, but the city of Idaho Falls is a popular relocation spot for outdoor enthusiasts. The city is located within an hour or so of both Yellowstone National Park and Grand Teton National Park. Frankly, it is hard to tell since the geography is more or less the same as in the parks.

Although it is a launching spot for the outdoors, Idaho Falls is a pretty sleepy city. If you need a strong and vibrant nightlife, Boise may be a better choice.

Idaho Real Estate

Idaho real estate is reasonably priced as of October 2005, but prices are starting to appreciate. In particular, Boise is seeing an influx of out of staters as evidenced by the booming real estate businesses claiming to be “relocation experts.”

Overall, single family residences can be had for the low $200,000s throughout the state. Boise prices are starting to march north of that figure and the overall state appreciation rate is in the 12 percent range. For a very good quality of life, these aren’t bad figures at all.

Raynor James is with the FSBO site FSBOAmerica.org homes for sale by owner. Visit our home buying page to view and buy Idaho real estate.

Effects of Hurricane Wilma on Key West Real Estate Market

Writen by Loren Rea

There is no doubt that Key West has changed after Hurricane Wilma roared through on October 24th. It was the worst we had seen since Georges in 98, and the worst storm surge Key West has seen in decades. Despite the flooding conditions things here on the island have been slowly getting back to normal. Some families will relocate while others will rebuild what they have lost and still keep loving the island of Key West the way they always have.

For the real estate buyer, it is a great time to consider Key West. Despite the fact we are in the hurricane zone, Key West is a pretty quaint town with a lot of charm and warmth. We pay a high price on insurance to live here but in the end it is worth it to be living in paradise and still be able to see the clear blue ocean and beautiful sunsets.

Homes that need repairs are already being worked on and insurance companies are working quickly to settle claims and get the citizens of Key West back on their feet. When considering a home in the Keys I can certainly help you factor in and research any questions you may have about homes in the Lower Keys.

Loren Rea lives in the Lower Florida Keys.

The Truth About Realtors

Writen by Scott Bradshaw

Recently I read that an annual poll taken among Americans rated Realtors as one of the least respected professions in the country. For the first time in history, Realtors fell not only to the bottom of the list, but even below non licensed, non governed professions. Yes, we finally beat out used car salesman as the least respected profession. Different polls have yielded different results, but this particular poll focused on ‘the trust of a professional to give good advice.’

Now, for me herein lies a particular conundrum. To start, certain significant differences exist between professions. For example, Realtors are licensed, and as such, they are governed by three governing bodies: their local board of Realtors, their state board of Realtors, and the National Association of Realtors. To be licensed, each Realtor must pass a number of significant signposts. For example, in Texas, a minimum of three college level courses must be completed to obtain a license. Of course, this only applies to college degreed individuals: more courses are required if the candidate does not possess an accredited degree. Next, they must pass the licensing exam.

Once their license is obtained, continuing education is mandatory to retain the license, as is common in many professions, such as Accountancy, Law, etc. This requirement is strictly enforced and must include a minimum amount of real estate law. Thus Realtors stay relatively abreast of changes in real estate and law, and, in particular, nowadays, of the growing problem of mortgage fraud, which can in some instances, implicate the seller, even if the seller is ignorant of the law, they can potentially face criminal charges and substantial fines as an accomplice. (Ignorance of the law is no excuse).

A Realtor, as a seller’s agent, can usually spot the red flags related to mortgage fraud and alert their client to the possibility and possible sources of relief to avoid an undesirable outcome (like jail). In short, the Realtor is a professional, and, in some cases, can not only sell your house, but keep you out of legal troubles.

Additionally, Realtors, per the National Association of Realtors, are bound by a code of ethics, which they must agree and abide by, for if they do not, they can (and usually are) brought before a court of inquiry through their local or state boards to determine their guilt or innocence and receive appropriate disciplinary measures. In short, if a Realtor is unethical (not just operating outside the law, but operating within the law unethically), they can (and will, if found guilty) lose their license to practice.

Did you know that a real estate agent is governed by the same body of law that governs attorneys? That’s right; it’s called the Law of Agency and it varies a bit state by state, but fundamentally, it says that a Realtor is required by law to put your interests above their own. The point is this: Attorneys and Realtors are bound by the same set of laws. Yet, somehow, Attorneys rate MUCH higher in the poll.

Ever consider what it cost just to practice real estate? Between the expense of joining the local, state, and national boards, as well as the local MLS dues, showing service fees, website fees, errors & omissions insurance, advertising costs, AND broker related fees and dues, a Realtor pays thousands of dollars (even tens of thousands) each year just to be a Realtor.

And we’re not finished yet. Once a Realtor is licensed, they must find a Broker to sponsor them. Now, this really isn’t that hard, but if you have a bad reputation in the field (and in real estate, everyone knows everyone), this might be much harder than you might think. In these cases, where reputations are poor, no broker will touch them, so a Realtor’s only choice is to become a Broker (which means more classes, more expense, more training, and another licensing test) in order to continue to practice real estate. This isn’t saying that all small brokerages are probable crooks, in fact, in most cases, small brokerages are just entrepreneurially oriented individuals trying to build a legitimate business, but there are cases where this is the last opportunity for some Realtors to practice real estate before being run out of town on a rail, so to speak.

I know this seems like rambling, or I’m complaining over something small, but I’m really not. I have an MBA; I am a Certified Management Accountant; I am Certified in Financial Management; I spent 23 years in banking and as a business consultant. Two years ago I got disgruntled with the internal political machinery that constitute ’success’ in corporate America and quit in order to look myself in the mirror at night. So I joined my wife to build a credible, honest business based on integrity. I became a Realtor.

What I found was that no one trusted me and that somewhat astounded me. People thought I took a listing, sat back, watched TV, drank beer, and waited for someone to sell their property. I’m not making this up they really thought this. They complained about the fact I wasn’t doing anything for them.

Wow! If they think I wasn’t working for them, they should take a long look at corporate America!

Now, get this, I would receive these complaints around 8:30 p.m. while I was still in the office working. For some reason, these clients didn’t add it up that it was 8:30 at night, and I was still at work. I have found that to remain competitive in real estate, I work seven days a week starting around 9:00 a.m. and end the day somewhere between 9:00 p.m. and midnight every day, and I am usually so busy, I forget to eat lunch (I used to tease my wife how she could possibly forget to eat lunch, but now that I’m in the business, I understand). That’s just what it takes to get all the phone calls answered or returned, the negotiations put to bed, the inspection issues resolved, the photos and virtual tours taken and posted, the newspaper ads ordered, the just listed cards sent out, the just sold cards sent, the monthly newsletter and other marketing materials in the mail, the website and MLS updated, the flyers designed, printed, and delivered to the property, the books balanced, the supplies replenished, the equipment fixed, the computers/printers/fax kept operational, the emails read and processed, the mail read and processed, all the paperwork completed perfectly and processed (the then verified for accuracy), the prospecting done, the client follow ups finished (time permitting), the closings attended, the closing gifts purchased and delivered, the listing presentations prepared and made, the comparative market analyses done, potential homes identified for buyers, the potential homes shown to buyers, the bills paid, the mandatory education completed, the 800 numbers recorded, all amendments signed and filed correctly, putting out ‘for sale’ signs/lock boxes/flyer boxes (or picking them up after a sale), the open houses held, the flyers prepared and distributed in every broker’s office in town for the open house, holding realtor luncheons, flyers prepared and distributed at every broker’s office in town for the realtor luncheon, buying and preparing the food for the realtor luncheons, talking to other agents to get feedback on home showings, and talking to others agents about our listings, fending off frivolous lawsuits, AND telling our clients that we ARE working on selling their home even if they don’t hear from us every day or even if they don’t see us doing anything.

That covers some of what our day is like. Every day is different, but that covers some of it.

My point?

Well, if it isn’t obvious, how are Realtors rated so low? We are we at the bottom of the list of all professions? How is this possible? With all due respect to used car salesman (and I mean that I’ve met a few wonderful used car salespeople), how can a licensed, governed profession, subject to stringent ethical and educational standards, that costs thousands of dollars per year just to practice (our costs to practice exceeded $50,000 last year), how can a profession that requires about 80+ hours of work per week all week well, how can this profession possiblly be less respected than a profession where NONE of these items are required? It boggles the mind. Are there licensed used car salespeople? Are they held to ethical standards? And think about this do they pay thousands to tens of thousands of dollars per year to be a used car salesman?

This isn’t to say that every Realtor walks on water. No. Not even close. But neither does every attorney, doctor, engineer, or accountant. There are levels of skill related to all professions, including Realtors.

So, what I want you to know is that the polls aren’t justified. Yes, they reflect that Realtors are one of the least respected professions in America, but the justification for this is MIA. I know, I worked in corporate America right next to hundreds of CPAs, engineers, systems analysts, programmers, and I lunched with CEO’s, COO’s, and multi millionaire entreprenuers. I’ve seen it all, I’ve worked with them all, and truthfully, the best bunch (by far) I’ve ever been associated with is the 130 agents in the Ebby Halliday Office in Arlington, Texas.

Are Realtors really one of the least respected profession in America?

Get real, folks.

Use a licensed Realtor. I recommend you find one by getting a referral from someone you trust, but for heaven’s sake, use a licensed professional.

Per National Association of Realtors statistics, you stand a 46 times greater chance of selling your home through a Realtor than on your own, and on average (if you listen to your realtor’s advice) you’ll end receiving a higher price for your home.

Oh, and you just might keep yourself out of jail in the process.

Scott Bradshaw, Realtor
MBA, CMA, CFM
The Penny Bradshaw Team
Ebby Halliday Realtors
http://www.pennybradshaw.com

More Return On Equity For Your Investment Property Dollar

Writen by Cary Losson

Few would deny that real estate is a solid investment. It provides an attractive combination of stability, reliable cash flow, preservation of principal and capital appreciation. However, many investment property owners nearing retirement find themselves in a quandary. They are equity rich, but cash poor, with increases in the value of their property far outpacing income growth. They also are often tied down by the day to day issues of property management and, particularly in cities like San Francisco, California, shackled to the constraints of rent (and eviction) control. In fact, San Francisco is home to some of the lowest cash return on equity in the state’s real estate marketplace, which is somewhat counter intuitive given California’s ever booming property market.

The obvious answer is to sell the property and unleash the dormant equity, but that can be problematic. These investors face the reality of prohibitive capital gains taxes and recaptured depreciation, as well as the task of identifying an alternate investment venue; or locating, acquiring and financing suitable replacement property in the time period allowed, taking advantage of tax deferral under IRS code section 1031.

An ideal solution for many investment property owners may be to reinvest the proceeds from the sale of their property and utilize a subsequent 1031 exchange into a tenancy in common (TIC) ownership type, also known as co ownership of real estate (CORE) interest in a suitable replacement property.

1031 exchanges, also known as Starker exchanges or tax deferred exchanges, permit owners to sell investment property and defer tax payments by reinvesting the proceeds into another investment property (or investment properties). In order to completely defer the payment of tax, among other things, the replacement property must be of equal or greater value and all the equity from the sold property must be reinvested in the new property. The marriage of 1031 exchange and TIC/CORE allows investors not only to defer their capital gains taxes but also to upgrade their investment real estate.

TIC/CORE is a way of sharing ownership of property among two or more persons whereby each tenant holds an undivided interest in the property. Tenants in common may own interests of differing sizes. TIC/CORE investors are on the title and considered separate owners of the real estate. They share pro rata in the income, tax benefits and appreciation of the property. Their TIC/CORE interest can be purchased, sold, gifted, bequeathed by will or inherited; and it is subject to property taxes, gift tax, and estate and inheritance taxes in the same manner as any property held in sole ownership. With a TIC/CORE property, each of up to thirty five investors have the opportunity to own an undivided fractional ownership interest in an investment grade property, such as an office building, shopping mall, apartment complex or industrial property, costing anywhere from $10 million to $150 plus million.

The benefits of investing in TIC/CORE properties are substantial. Such properties employ professional asset and property management, relieving the investor of day to day tenant headaches. More important, investors often receive greater cash flow and overall returns than they had in their previous sole ownership property. Typically, many people receive between 2 3 percent of their equity in their property in rental income. By selling this property and placing the equity into a larger investment grade property, they can potentially experience annualized cash flow from 6 8 percent, paid monthly, and 12 16 percent overall return on their investment. Also compelling is that TIC/CORE exchange investors can diversify among several property types, and geographic locations through fractionalized ownership, while still enjoying 1031 exchange benefits on each amount. Thus, investors can potentially reduce risk in their overall real estate portfolio.

Investors seeking to exchange for a TIC/CORE property are best advised to work with a financial advisor experienced in 1031 exchanges. Such advisors work closely with top real estate providers, who give the investor access to the best properties available. In addition, many TIC/CORE opportunities have pre arranged, non recourse financing in place, which is perfect for investors working within the 1031 exchange time frame. Numerous hours of upfront investigation, evaluation, due diligence and life cycle planning transpires before a property is offered to an investor group. Investors faced with only a 45 day window to identify a suitable replacement property to complete a 1031 exchange can select a suitable project with confidence.

Given the tax deferral, institutional grade quality of the property, professional property management and pre arranged, non recourse financing aspects, a 1031 exchange replacement property structured as tenancy in common ownership can be a very wise and profitable solution. It allows the investor to maintain everything they like about real estate (monthly income, preservation of principal, capital appreciation, etc.), while eliminating most of the hassles of property ownership.

(c) 2005, 1031 Exchange Options. Reprint rights granted so long as the article and by line are reprinted intact and all links made live. This article is neither an offer to sell nor an offer to buy real estate or securities. There are material risks associated with the ownership of real estate. You must be an accredited investor. Securities offered through Sigma Financial Corporation, Member NASD/SIPC.

Cary Losson is the Founder and President of 1031 Exchange Options. A luminary in the TIC/CORE 1031 exchange marketplace, Mr. Losson is frequently quoted in journals and periodicals concerned with investment property issues and advice. For more resources to assist in your learning: http://www.1031exchangeoptions.com/resources.html

Advantages of Pre Approval

Writen by Michael McClure

The first step toward obtaining financing for a home purchase is to select a reputable, quality lender. The next step in the process is for you to obtain a “pre approval letter” from that lender. Before I get to that, it is important to note that there is a significant difference between “pre qualification” and “pre approval.” Most buyers don’t understand that there is a difference, but the difference is dramatic and not realizing this could have a significant impact on the outcome of your home buying efforts. Here is a brief explanation of the two processes:

“Pre qualification” does not guarantee you a loan. It merely establishes how much you are capable of paying for a house, based upon what you tell a lender. Most lenders will provide a pre qualification letter to almost literally anyone that calls them. Accordingly, sellers and listing agents view “pre qualification” letters with a healthy degree of skepticism. As one very experienced agent stated it succinctly, “pre qualification letters are not worth the paper they’re printed on”

“Pre approval,” on the other hand, is a much more exhaustive process in which a lender will inspect your credit and financial situation in detail. This process guarantees you a specific loan amount. It also determines the types of loans for which you may qualify, your interest rate, your monthly payment amount, etc.

Why you need to obtain a pre approval letter:

Because you need to understand your price range BEFORE you begin looking at houses. Simply put, you do NOT want to look at $400,000 homes if your upper price point is $350,000. Why? Because it is difficult to be content with a lower priced home if you’ve gotten used to homes beyond your financial reach

Because lenders can detect potential problems that might make obtaining a loan difficult. Credit report errors, high debt balances and an insufficient down payment may be corrected if discovered in a timely fashion. If credit problems are significant enough to keep you from obtaining conventional financing, it’s better to learn about it before you invest time in this emotional and often time consuming process

Because you will need to provide the pre approval letter along with any offer that you submit on any property, so you need to have the letter in hand at the onset of the home search process. The pre approval letter is viewed as an integral part of any offer, and sellers and listing agents expect you to provide this. The absence of such a letter will be perceived quite negatively, and imply a lack of preparedness on your part

In conclusion, you should obtain a pre approval letter before you start your home buying process. It’s typically a fast and easy process, and the reasons for doing this are significant: pre approval lets you know what you can afford before you become emotionally attached to something you can’t, it helps identify and correct loan problems up front before the crisis hits, and it strengthens your ultimate bargaining position.

Michael McClure is the founder of Professional One Real Estate, a brokerage located in Plymouth, Michigan. After graduating from Michigan State University with a degree in accounting, McClure worked as a Certified Public Accountant for Price Waterhouse for nearly a decade. After leaving accounting in 1991, he began selling real estate. To date, he and his partner, RE/MAX Hall of Fame Member Phyllis Lemon, have cumulative lifetime sales of approximately $500M. McClure also volunteers on the Professional Standards Committee (a self governing body of the local association of realtors that acts in a judge and jury like fashion regarding ethics complaints and arbitration disputes) of Western Wayne Oakland County Association of Realtors. He sat for and passed the State of Michigan’s Associate Real Estate Broker’s examination in December 1996. McClure and his team have developed one of Metro Detroit’s top ranking real estate websites http://www.professionalone.com

Real Estate Options: The Best Kept Money Making Secret

Writen by Alex Nghiem

Real estate investing is currently a very hot topic because of the increasing property values and the number of investors who are looking for a safer alternative to the stock market.

In the last 10 years, stock investors lost trillions of dollars in the stock market, so they are still understandably skittish about returning to the market.

Most beginner real estate investors often start in real estate investing by a rental property using the traditional method. That is, they put down 5% to 10% and then borrow the balance from the bank. While this works, it requires more capital than most investors can initially raise, but more importantly, it creates unnecessary risks.

A better and lower risk way is to use a real estate option, which is arguably the best kept money making secret in the industry. Having talked to thousands of investors, I have found that probably less than 10% understand how to use this very powerful technique. However, savvy investors such as Donald Trump use real estate options in almost all of his deals.

A real estate option can be used for multiple reasons (estate planning, speculation, etc.), but this article will focus on using a real estate option to quickly generate cash.

Unlike stock options, which can be high risk, a real estate option is less volatile and offers some key advantages.

* A real estate option allows you to control a property without owning it. Ideally, you want to use an option on an owner occupied property. Most homeowners are not trained to sell a house and often end up not being able to sell it within a reasonable time frame.

Essentially, you use an option to control a property while marketing it and as soon as you sell the house, you pocket the difference between the strike price (the price the seller agreed to sell the house for) and the selling price.

* When done properly, you can get a real estate option on a property, market it and cash out 30 to 45 days (I have a client who has done it as little as 4 days and made $9,800).

* By using options only on owner occupied homes, you avoid many of the drawbacks of traditional real estate investing (vacancies, holding costs, mortgages, repairs and tenants).

* Another huge advantage is that in any city, there is a large number of homeowners who would gladly let you option their house, especially if you can know how to sell it quickly. The key is to demonstrate that you have a pool of eager buyers who are ready to purchase, and you can build this pool of eager buyers through marketing and networking.

* The amount of money you risk is low because you can often negotiate a 90 day option on a $100,000 house for $10 (yes, ten dollars). If you can’t sell the house, then you are out of $10 and some sweat equity. However, with every house you option, you are continually building a more complete database of what your buyers want.

* Using options doesn’t require you to get a license. Starting today, you can go out and acquire an option on a property and start marketing it.

* Real estate options are very flexible because you can option almost anything. While single residential homes are the most common thing to option, you can also purchase an option on land, commercial buildings, apartment buildings and even trailer parks.

In summary, using real estate options is not a well known technique but savvy real estate investors have been quietly using them to make a fortune for years.

Isn’t it time you did the same?

Copyright 2005 Alex Nghiem

Alex Nghiem is the co founder of Wealthautopilot, which provides coaching and educational products/events for real estate investors who want to turbo charge their results immediately. To get a weekly free newsletter on cutting edge real estate tips and a 6 part course on real estate options, visit http://www.wealthautopilot.com/course a