Getting Started in Real Estate Day Trading : Proven Techniques for Buying and Selling Houses the Same Day Using the Internet!

by Goins, Larry

• ISBN13: 9780470418628
• ISBN10: 0470418621
• Edition: 1st
• Format: Hardcover
• Copyright: 2009-02-03
• Publisher: Wiley
• More Book Details
• Purchase Benefits

Summary

Real estate day trading is using the Internet to buy and sell houses without leaving home. In many cases, the investor closes on a house and resells it the same day. Readers will learn the author's system for how to buy and sell 5-10 houses a month in today's market, using the Internet, phone, fax, and email to analyze, research, and find the properties, buyers, and others needed for the transaction. Author Larry Goins has personally done deals in nine different states and has students in the US, Canada, Australia, New Zealand, Japan, China, Israel, the Philippines, and Denmark. Day trading can be used for wholesaling properties to other investors, retailing, lease options, short sales, foreclosure investing, etc. The basic steps are: Search online for potential properties to make offers on, using specific techniques for finding the right ones. Once an offer is accepted, usually within 1-2 weeks, put it on paper using clauses included in the book, and get the property inspected by a rehab contractor to get a free estimate of how much the repairs will cost. This is done by finding reputable contractors online and through referrals from realtors and through autoresponders. Order an appraisal. Sell it fast! Using the buyers list you have built on the internet through email marketing groups, social networking sites, blogs, free classified sites, bank-owned property sites, and more, send an email with the details of the property and instructions on how they can get the property under contract. Usually within two hours several potential buyers will reply. Set up a closing to buy it and to sell it on the same day; closings are about 30 minutes apart. By it at 10:00 and sell it at 10:30, for example. There are many ways to fund and close on the property. The book will contain step-by-step, easy processes for assignments, options, flex options, simultaneous closings, using hard money, private money, cash partners, and credit partners, none of which will require an investor's own cash or credit.Larry Goins (Lake Wylie, SC; www.larrygoins.com ) is one of the real estate industry's most popular speakers. He buys and sells 5-15 houses a month all over the US, in today's difficult market, from the comfort of his office. Larry speaks live an average of twice a week and holds two to three teleconferences a week. He is licensed as a mortgage lender, mortgage broker, real estate broker, and general contractor in North and South Carolina. Larry served as President (2003 & 2004) of the Metrolina Real Estate Investors Association in Charlotte, NC, a not-for-profit organization that has over 350 members (it is also the local chapter of the National Real Estate Investors Association). He has been investing in real estate for over 20 years.

Author Biography

Larry Goins is one of the real estate industry's most popular speakers. A licensed mortgage lender and real estate broker, he buys and sells between five and fifteen homes online each month with his team of real estate day traders.

Table of Contents

Downloadable Forms

Foreword

Acknowledgments

Introduction

Real Estate Day Trading: A New Way to Make Big Money Buying and Selling Houses the Same Day

Click a Mouse, Sell a House: Real Estate Day Trading Is the Easiest and Fastest Way to Make $90,000 a Year (or More) while Keeping Your Job . . . If You Want To

Real Estate Day Trading Makes Failure a Thing of the Past

Small Problems Appear Large through Novice Eyes

Real Estate Day Trading Is a Confidence Builder

Make $90,000 a Year (or More) while Keeping Your Present Job

Real Estate Day Trading: A Business Done Entirely by Phone, Fax, E-Mail, and Internet

Time Line for a Typical Deal

The 10-Step Day Trading Process

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6

Step 7

Step 8

Step 9

Step 10

What You Need to Get Started

Set Up Your Own Day Trading Money System and Start Making $5,000 to $10,000 Cash Paydays in 30 Days

It's Easier to Find a House for a Buyer than a Buyer for a House: Get Investors Lined Up to Buy (Wholesale) from You

It's All about Finding Houses for Buyers

Real Estate Day Trading versus Real Estate Investment

Think Like a Supplier

What Kinds of Houses Do They Buy

Low Income Doesn't Mean No Income

Most Houses Are Not for You

Goldilocks Houses-Not Too Big, Not Too Small, Just Right

Avoid Townhouses and Condos, Multifamily Houses, and VA/FHA-Owned Houses

Instant Property Analysis to Identify Profitable Deals

More Offers Mean More Money

Two Simple Questions

What Will It Sell for after It's Repaired?

How Much Will It Cost to Repair?

A Third Question You Need to Ask

Short Selling Is Not the Best Way to Day Trade Houses

Run the Numbers

Do an Instant Property Analysis

Buy Houses Sight Unseen

An Exception to Fixer-Upper Properties-Instant Landlord Properties

Day Trading Luxury Homes

Three Types of Deals

Day Trading Not Investing

Make Your Deals Irresistible to Buyers

Use the Internet and Web 2.0 to Build a Database of Motivated Buyers

Why You Need a Database of Buyers before You Ever Talk to Sellers or Realtors

What Is a Database?

Types of Database Software You Can Use

Automate or Die

Use Autoresponders to Stay in Constant Contact

The Fortune Is in the Follow-Up

Branding with Name, Logo, and Business Cards

Ways to Build Your Buyers Database

Marketing

Networking

Prospecting

Tabbed Browsing to Speed Up Your Searching

Answering Services and Call Capture Services to Handle Your Incoming Phone Calls

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