One of the easiest ways to get around the nonassignable contracts is to use Limited Liability Corporations (LLC’s). To use an LLC on a nonassignable contract all you need to do is fill in the purchase agreement in the usual fashion. But, instead of using the typical “and/or assignees” clause, you simply fill in the name of your corporation. Then instead of assigning the contract to another investor for profit, you will sell the other investor your LLC. Because the contract is filled out in the name of the LLC you will essentially be assigning the contract when you sell the LLC.
Having said all of that, make sure that you have the LLC set up prior to writing up any contracts. If you are serious about real estate wholesaling I would recommend always having a couple of pocket LLC’s ready in case a great deal comes your way. By having your LLC’s ready ahead of time, you can prevent the possibility of having a paperwork slowdown at the government level. The last thing that you need to have happen is to lose out on a $15,000 profit because you did not prepare enough ahead of time.
Eric Medemar is a real estate investor and internet marketer from Grand Rapids, MI. Be sure to get your Free Guide To Real Estate Wholesaling. You can also view Erics wholesaling real estate blog here. Eric is also a contributing member to The Internet Marketing Forums at The Millionaire University.com
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]]>So, do you know where you should be investing right now in this challenging real estate market?
The answer: Lake Tahoe real estate
Here’s why you should invest in Lake Tahoe real estate, especially in the South Lake Tahoe area.
Top 7 Reasons to Invest in Lake Tahoe Real Estate
#7: Ideal Weather Conditions & Year Round Recreation Attracts New Buyers
Summer tourists in nearby Sacramento and Reno experience temperatures in the 100’s. The Bay Area is socked with fog. Lake Tahoe generally enjoys highs in the low 80’s.
And, don’t let the fact that this is known as a world-class ski destination fool you into thinking that the winters are uncomfortable. An average January day ranges from 15 - 41 degrees with brilliant sunshine compared to Vail (0 - 31,) Jackson Hole (5 - 28,) and Stow (1 - 25.)
When a storm comes it drops the snow and leaves us basking in sunlight. In fact, the sun shines approximately 275 days a year.
This allows Lake Tahoe to offer the complete selection of recreational activities all year round
Unlike most ski or golf resorts, Lake Tahoe has something for everyone. The pristine blue waters and sandy beaches provide swimming, fishing and sun bathing. Boating opportunities range from kayaks to sailing to motors. The forest and mountain trails draw hikers, bikers, rock-climbers, snow mobiles, snow shoes, cross country skiers and campers. Golf resorts range from lakeside to high desert. Photographers, painters and artists of all mediums flock to the area.
#6: Real Estate’s Rolling Boom Effect
When an area is experiencing high real estate activity, investors should look to the surrounding areas for the next wave of activity.
The Lake Tahoe real estate market benefits from the surrounding Reno, Sacramento, and overall San Francisco Bay communities. We are receiving reports that increased real estate activity in the area and values are stabilizing.
With today’s’ inventory surplus, low interest rates and the news blasting daily “doom and gloom” reports, sellers are more willing to negotiate now.
#5: Baby Boomer Are Buying Lake Tahoe Real Estate Now
Baby Boomers are the driving force behind the resort market industry and they have only just begun to invest. Many baby boomers are now inheriting various levels of wealth from senior family members. At the same time, they are in their peak earning years and investing actively in second homes and retirement homes.
They are searching for second homes near beaches, lakes, ski resorts and golf courses. Lake Tahoe is one of the few second home destinations that can offer all three.
#4: It’s Affordable
Reasonable pricing is one of the key reasons to invest in Lake Tahoe real estate. According to the South Lake Tahoe Association the price for a single family home within its South Shore is less than half than homes in Vail, Aspen and Jackson Hole.
#3: Opportunities for Supplemental Income
Lake Tahoe is a world-class vacation destination. Vacation rentals bring in subsidized income which can help cover the costs of your real estate investment. When a home offers the “Tahoe Look,” dwells within a desirable location (near outdoor recreation) and includes amenities such as a hot tub or pool table, demand automatically increases.
For example one of our current listings, a 6 bedroom contemporary home has averaged an income of over $125,000 for five years now.
# 2: High Demand and Strictly Limited Supply
In a nutshell, there is no chance of real estate over-development having a negative impact on the value of Lake Tahoe homes. Generally, supply is low and demand is high.
During the 2004-2005 “boom,” investors and developers were throwing up houses at break-neck speed in hopes of huge profits. When this market came to a screeching halt, these areas were the first to see foreclosures. Supply will always be in the favor of the investor because Lake Tahoe real estate is an environmentally protected area. That means growth is strictly limited.
And, the # 1 Reason to Invest in Lake Tahoe Real Estate: Improve Your Quality of Life:
Would You Rather Watch Your Investments or Live Them?
Everyday, we hear those who have invested in Lake Tahoe real estate praise the benefits gained through living a less stressful and more joyful life. These benefits include better health, longer life, better relationships, and so forth.
How does this relate to investing?
Think about it.
Wouldn’t you rather watch it grow while relaxing on the beaches of Lake Tahoe rather than pulling your hair out in front of your computer?
You can watch arrows going up and down or you could ride the chair lift up and swish your way down. You can listen to computer chimes or you can listen to the wind in the pines.
What could be better than wrapping “quality of life” and long term investments into one “full benefits” package?
Robert Frost inspired us to unite vocation with avocation. Investing in Lake Tahoe real estate is just such a venture. The pay offs can be huge.
About the Author:
Theresa Souers, Partner in the Lake Tahoe real estate company, Pinnacle Real Estate Group - Lake Tahoe has helped hundreds of real estate investors just like you profit from investing in Lake Tahoe real estate. Go to homeintahoe.com to get FREE instant access to Theresa’s insights and the best listings in the Lake Tahoe real estate market.
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]]>I recommend getting the deed before your proceed any further in pursuing a short sale. Why? People who are losing their home to foreclosure tend to have a high level of denial. Because of this in many cases you end up spinning your wheels because the sellers will stop returning calls, and stop cooperating with you in pursuing the short sale. Getting the deed signed over to you will help ensure that your efforts have the chance of leading to a profitable end, rather than wasting your time working for free with uncooperative homeowners. The last thing you want to do is end up spinning your wheels with homeowners who will not cooperate with you. As hard as it is to believe, even though you are helping homeowners to save their credit, many will work against you.
Eric Medemar is a real estate consultant from Grand Rapids, MI. Be sure
to check out his FREE real estate
investing guide as well as his Highly acclaimed
real estate investing course where he will show you his easy to understand methods for
wholesaling real estate without
cash or credit.
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]]>Both real estate and stock markets are survivors, but there are plenty of times when real estate returns fare better than stock market returns; not to mention there is more than a perceived value in a tangible asset such as real estate when the market cools off. This is why real estate investments have become a real magnet for investors’ retirement portfolios. These investors are looking for the security of a tangible asset while at the same time benefiting from the highest returns on their money.
The key components of a self-directed IRA real estate investment lie in the words, “self-directed.” Because of the nature of the self-directed IRA, present and future retirees can now establish a self-directed IRA real estate account with the help of a trusted and competent IRA trustee/custodian and a self directed IRA advisor.
A self-directed IRA real estate portfolio means that investors have the blessing of the IRS to use monies in their IRAs to purchase real estate and other alternative assets to achieve their investment objectives. Many people nurture the mistaken notion that this is not allowed by the IRS; this is because traditional IRA advisers would prefer to oversee holdings which they can monitor for their clients and a real estate holding would be administratively cumbersome. That’s one. Two, there’s nothing in the law that requires them to offer real estate investments to clients. These are the principal reasons why a self-directed IRA real estate option does not appear in the portfolios of millions of investors when in fact, it does not constitute a prohibited transaction by any measure. The only restriction that applies is that individuals with self-directed IRA real estate holdings cannot live in the property they purchase.
For someone new to the game of self-directed IRA real estate options, engaging the services of an advisor, who is well versed with self-directed IRA real estate accounts would make sense. A qualified self directed IRA advsior will have the expertise to deal with the administrative paper work and the mechanisms to employ so that the investor does not get slapped with IRS penalties and taxes.
Have you considered investing in real estate with your IRA account? This growing trend is here to stay. Don’t get left behind. Joshua Geary educates his clients on the benefits of taking an active roll in planning for their retirement. You can visit his favorite Self Directed IRA Custodian
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