Memphis Real Estate

A montage of lively communities, Memphis is no longer the laid-back port town it used to be. The downtown Memphis area is where the life of the city really is. Here one can find antique shops, restaurants, art galleries and coffee shops just a walk away. The downtown area is home to more than 23,000 residents - a number that is steadily growing with the building of houses, apartments and condos in the area. Downtown Memphis is home to Beale Street, the celebrated "Home of the Blues." Beale Street features a number of bars and cubs that cater to jazz, blues and rock and roll music. Then there is the Pinch District, which is home to cafes and bars that are frequented by local residents and tourists that are attending events at the nearby Pyramid.

Midtown Memphis has some of the city's most pristine neighborhoods. Tree-lined avenues are flanked by grand bungalows and apartments. Overton Park, located in the center of midtown, is one of the United States' biggest urban parks. Some of the city's numerous attractions are the Memphis College of Art, Memphis Zoo and the Overton Park Shell. Several universities and colleges augment Midtown Memphis' diverse atmosphere. The neighborhoods include Vollintine-Evergreen, Cooper-Young, Overton Square and Central Gardens.

Most of Memphis' high-status housing areas, shopping and office centers are situated in East Memphis. The Memphis Botanic Garden, Audubon Park, Lichterman Nature Center and other public parks and gardens give a unique appeal to East Memphis. Chickasaw Gardens, for one, is full of elegant houses. The Pink Palace Museum and Planetarium lie adjacent to that neighborhood. Then there is Cordova, which is a rapidly growing community in the Metro area.

Shelby County, outside of the main city, boasts of a number of beautifully integrated cities and towns. These include Arlington, Bartlett, Collierville Germantown, Lakeland and Millington.

Neighboring areas that surround the city include Fayette County, Tennessee; Tipton County, Tennessee; Crittenden County, Arkansas; DeSoto County, Mississippi; Tunica County, Mississippi; Tate County, Mississippi; and Marshall County, Mississippi.

Temporary Car Insurance

Temporary car insurance offers complete but short-term cash cover to a policyholder against accidents or damages caused to the insured car or its driver. The coverage period generally lasts up to 28 days. This policy is aimed for:

* People who drive on an irregular basis

* People who have added an additional vehicle to their fleet on a temporary basis

This type of insurance is ideal for:

* Students who drive only when they come home during school holidays

* Tourists who want to drive a car at a new place

The temporary car insurance policy is also bought for:

* Unaccompanied vehicle demonstrations

* A newly bought car as a drive away insurance

The premium amount for this insurance is decided by:

* Keeping in mind the deductible that an individual will have to pay

* Balancing the premium and deductible to make the deal effective and affordable in the long run.

Why do you Need a Temporary Car Insurance Policy? Temporary car insurance can be extremely useful in the following situations:

* Your car is going to be driven by someone other than you for a short period of time. In this circumstance, you can get the car insured for the period s/he is driving it or till the time s/he gains perfection.

* When you buy cars and lend it to drivers on a daily basis. To own a vehicle, you simply require a liability insurance policy. However, the driver who will be driving the car will need to get proper insurance, which they can get in an affordable way through a temporary car insurance policy.

If a car is at a high risk of being destroyed in a hurricane, storm or flood during a specific season, it can be insured against the possibility. Temporary car insurance enables you to avoid paying premium throughout the year for risks that are temporary in nature.

Justin Timberlake's Many Endorsements - Celebrity Substance - Alyssa Caverley

CELEBRITY SUBSTANCE celebritysubstance.weebly.com Justin Timberlakes annual golf tournament and concert benefitting the Shriners Hospitals for Children last week peaked my interest. I wanted to look at some of the other good things that he is doing. Timberlake is usually in the tabloids for being a playboy and focused only on his career, but I am slowly finding out that he is also a supporter of many charities. He also hosts and organizes many concerts benefitting certain charities, like the one he organized last week with a host of A-list celebrities. Timberlake started the tournament and concert in 2008. It was so successful that he decided to do the concert again this year. This years concert featured a long line-up of music stars including, Taylor Swift, Alicia Keys, Snoop Dogg, Jay Sean, Ciara and, TLC. The Shriners Hospitals for Children is dedicated to improving the lives of children by providing pediatric specialty care, innovative research and teaching programs. The Hospitals do not charge families for their services and focus on the needs of the children even if the family does not have insurance or the financial ability to pay. Timberlake is an advocate for the hospital and participates in the weeklong golfing and concert event in Las Vegas with all proceeds going to the Hospitals. In late 2007, Timberlake donated $100000 from the Australian leg of his tour to Wildlife Warriors, which was founded by Steve Irwin. The charity was founded to educate others to the ...



http://www.youtube.com/watch?v=kxxFByS1tLc&hl=en

Insurance Marketing Territory - Great Product Marketing States

Check and see if any of the states in your insurance marketing territory are listed here. These are great insurance product marketing states to enhance your sales. State rankings are provided for the 11th thru 21st state along with a recap listing of the first ten.

TENNESSEE, Rating = 11 Tennessee is not considered a rich state by any means. However, it holds a solid reputation as a solid insurance marketing territory. Here long time recruiting operations are as totally committed to mailing Tennessee brokers, as are music collectors totally committed to collecting Elvis memorabilia. What really helps split up the competition is that the state is divided up into three major metropolitan areas, Nashville and Memphis, followed by Knoxville. We mentioned before, how this factor helps to significantly lower total recruiting competition. In addition, the wide diversity for annuity, life, financial, health, group, and senior products offers all product marketing firms an opportunity.

OREGON, Rating = 12 This an all round very good state to market your insurance products. Examining almost every statistical figure points out Oregon is within close range of the national "average" state. This includes the income level, the percentage of senior residents, the number of agents per thousand residents, and the amount of insurance marketing competition. The agent retention rate, and average number of years of agent experience correlate correctly. The response received back from insurance marketing firms contacting the quality agents has been favorable, and the response rate from agents has been slightly above normal. It is these two last, yet very critical recruiting factors that place Oregon significantly ahead of the middle of the pack.

ALABAMA, Rating = 13 Sweet home Alabama, where the skies are so blue, and the recruiters are too few. Alabama has an exceptionally good mix of agents, meaning independent agents, career agents that broker business, and multi-line small agencies that brokers with insurance marketers their life and health business. There is far less recruiting demand than expected. The lower competition pressure mixed with the pleasant response from those who using refined lists to recruit in Alabama, places a well deserved, lucky 13, rating.

KENTUCKY, Rating = 14 You way find the blue hills of Kentucky beautiful, along with the green pockets of Kentucky agent product recruiters. Kentucky has a fairly similar mixture of agents to Alabama. Although here in Kentucky, there exists a heavier concentration of career life agencies. The competition search for recruiting experienced agents to sell products, is just above normal, yet the response feedback from insurance marketing organizations ranks as being very good.

ARKANSAS, Rating = 15 Arkansas is ranked the ninth highest state for its rising senior population, and reasonable retirement housing and living costs. This makes it a must state for insurance marketing recruiters of senior market agents to sell ltc, long term care, medicare supplements part B and D, final expense, and some annuity products. However, here is a drawback for some insurance recruiters. This is a state where it is much harder to sell high premium, sophisticated annuity and life retirement/invest plans. Arkansas lends itself to a rural and small business atmosphere, starting just outside Little Rock city limits and extending throughout the entire state. As it is a low-income state, major life insurance career agencies have focused elsewhere. This leaves many semi-captive agents, independent agents, brokers, and PPGA producers. Moreover, it is a very good state also for marketing medical plans, small group, term, universal life, and family life products.

KANSAS If you have a limited recruiting budget, stay out of Kansas City, Kansas. This area has too many career life agencies. and lower agent retention. Unknown Fact revealed: a state or area of a state with a high concentration of career life agents averages a 5% to 20% lower retention of maintaining The remainder of the state, has agents of the caliber that are much more likely to show an interest in your insurance product or give brokers an opportunity. Kansas holds the 21st position for median family income, plus a senior population equal to the state average. For you, a recruiter, it means you have a vast variety of products for brokers to sell. Products ranging from variable indexed annuities, to long-term care, to universal life, all have their marketplace in Kansas. To these advantages, add good feedback response from other marketers and a lower that capacity demand for recruitment advertisements.

MISSISSIPPI, Rating = 17 For the current time we are keeping Mississippi in this ranking position. .Earning the distinction of currently being the state with the lowest median family income, does not help .This means it is a poor state to market annuity products, while lower cost health and life products thrive. Overdue modernization and a favorable business tax environment will eventually drive up the housing market and associated contracting and building occupation incomes. Local and regional recruiters know that outside areas are not feeling the effects; in fact, some are benefiting from higher quality that normal. Staying out of main town New Orleans is smart, while staying out of Mississippi is not.

OKLAHOMA, Rating = 18 Oklahoma is more than just an "OK" state. It may surprise you that most of the lower income states, have a higher than average rating. Why? Over the last 10 years, larger career life companies, especially those based in the high-income Northeastern/New England states have pulled out almost all their agencies in lower income areas. Why So? A Large career life company wants to get the agents off and running appointments with higher income products. They look for lots of possible clients that can afford high premium life and investment plans. In a low-income state, finding people with this profile is not feasible. For the number of Oklahoma agents willing to broker business, recruiters have overlooked the state far too often. Other than high premium or complex annuities, the state is wide open for business.

NEBRASKA, Rating = 19 Nebraska is not only home to the Cornhuskers. It is also the home of major health insurance companies, like Mutual of Omaha, World, Medico, and others. Although the senior population is slightly above normal, these home base insurers have quite a monopoly of senior related products. Their agent direction has widely changed however to being much less captive than before. This means the brokerage agents in Nebraska are still not very open to non-senior, blue-collar disability, and medical plans. The average family median income is above 28 states. This opens up good premium opportunities for brokers offered variable life, universal life, term, small group, worksite benefits, and annuity plans to sell their clients.

UTAH, Rating = 20 No every man does not have 6 wives, and 20 children. Therefore, it is not selling family life, and family medical policies that place Utah so high up in the rankings. Instead, it is the wide mixture of clients, especially outside the Salt Lake City area. The influx of agents moving from Nevada and Colorado to Utah is worth noting. The market for all types of life, annuity, and health products is very strong. There are a sufficient number of brokerage agents to make your mailing worthwhile.

In case you are wondering here is a recap of the first 10 rated states Florida, texas, California, Ohio, Georgia, Wisconsin, Minnesota, North Carolina, Michigan, and Missouri with the #10 state ranking.

If You Want to Invest in Real Estate - Find Your Local Real Estate Investment Association!

Enter the phrase "real estate investing association" followed by any city into your favorite online search engine and you are bound to get a flood of returns. You will find associations that meet in person, some that meet online, others that are simply designed to deliver information and opportunities for investors. No matter what the alternatives are in your area, if you are going to invest in real estate, this is a first step you must take.

DIFFERENT TYPES OF REAL ESTATE INVESTORS ASSOCIATION?

Most real estate associations are organized and operated by local real estate investors. Some are set up as for-profit entities and others are set up as nonprofits. The biggest difference between the set ups is the quality of the content and the dedication of the operators. In a for-profit situation, the operators of the association are using the club as an opportunity to connect with local, experienced investors and first timers who are interested in getting started. The content is usually very good, but will often times be reserved only for those who are paying customers. Their topics tend to be universal in nature and not just reserved for a particular area. They also attract big name speakers and their talks can come with either additional costs or product pitches to help pay for the expense of bringing in high profile speakers. Many of these types of clubs have multiple meeting times and multiple functions each month designed to help every level of investor.

Nonprofits tend to be only slightly less organized, but they do have very good material. Usually the material is presented by local investors and not top-notch national speakers as they tend to be too expensive. Another bonus for nonprofit associations is that they tend to have presenters who are actively investing in a community or local leaders such as banks, insurance agents and even real estate agents who are able to present on more localized topics.

A new phenomenon is the online association that is still designed for a particular area. The nice thing about a group like this is that even in your own home, you are able to join in on discussions, participate in online presentations and interact with other investors in your community. These types of groups tend to be very free-flowing with a lot of local topics and discussion from multiple sources. A downfall of online groups is the lack of a moderator to screen discussion and as a participant you must be aware that not all advice comes from experienced, active investors.

WHY JOIN A LOCAL REAL ESTATE INVESTORS ASSOCIATION?

The benefits for an investor when they join a local real estate investors association are many, but can definitely vary from one organization to another. The biggest benefit with any such organization is the opportunity to surround yourself with like minded individuals who can assist you with your success. Even if you are only able to make one good contact that you would not have had otherwise, the return on your investment in time and money can be enormous.

Most beginner investment books discuss the concept of team building and developing a group of individuals that handle all of your essential services. Local real estate investors associations is the location where you can find all of the resources and team members you could possibly need and as you get to know these possible team members through the meetings, you can decide which will fit best on your team. This allows you to interview and interact with all the essential team members before you do any deals.

The second biggest benefit after surrounding yourself with like minded individuals and possible team members is the access you gain to knowledge and experience. For investment associations that meet live, the atmosphere that is created in a live setting cannot be denied. The opportunity to hear from other investors and the mistakes that they have made in the past as well as the successes that they have had is invaluable. I have belonged to five different real estate investors associations in the past and have not only met great individuals, but have been greatly inspired and motivated by the stories and opportunities they presented.

Finally, the training you can receive at a local real estate investors association is very important. Most organizations have designated classes or presentations geared toward new investors that are meant as pure education platforms. No selling is involved in these types of classes. Most have question and answer sessions for you to get advice and to hear the questions of other investors.

Regardless of the type of organization you can join, it is vital to the success of most beginner investors that they join an organization and begin to network with other investors. It speeds the learning curve and can greatly reduce the number of mistakes a new investor may make.

RESOURCES FOR REAL ESTATE INVESTOR ASSOCIATIONS

As I mentioned early in the article, you can use your preferred search engine to search for "real estate investor associations" and you are going to get hundreds of returns from online organizations which are great resources of information. But if you want to really expand and network, you are going to have to search locally and add the name of you the nearest city to your search. Memphis as an example has two organizations that meet in person and each are nonprofits. One hosts a monthly night meeting and the other hosts a monthly lunch meeting. There is also an online association in Memphis that ties investors from all over back to their investments in Memphis. So an investor looking for an association to join in Memphis will find at least three good alternatives. Most likely, that will be the case in any major metropolitan area.

Once you decide to get started in real estate investing, search for and find the groups. From there, it is up to you to take the next step and join!

Tax Deductions - Tips For Individual Real Estate Investors

Tax deductions are not the top priority for most individual real estate investors. They often work out of their home with no employees, other than those on-site at the property. Challenges (aside from tax deductions) include selecting what property to purchase, screening tenants, repairs, managing expenses, obtaining financing, and deciding when to sell. This article addresses tax deductions sometimes over-looked by real estate owners.

Tax deductions reduce taxable income but do not directly reduce taxes. For example, $10,000 in additional tax deductions will generate $3,500 in federal income tax savings ($10,000 X 35%), assuming a 35% federal income tax rate. Since most require a cash expenditure, increasing actual expenses to increase tax deductions is not desirable. Let's review fine-tuning the depreciation schedule and reclassifying existing expenditures to increase deductions.

Real estate depreciation is a potent but underutilized source of tax deductions Real estate depreciation schedules are commonly established by just separating land from the improvements. This is analogous to asking a world-class pianist to play a piano which is not tuned and has several keys which are not functioning. The results are just not as good as they should be.

Congress has provided depreciation as a tax deduction to encourage real estate ownership and investment. Numerous court decisions have provided clear guidance for accurately and precisely depreciating real estate. Cost segregation can typically increase real estate depreciation by 50-100% in the first 5-7 years of ownership.

Owners can claim a tax deduction windfall for properties owned more than one year by "catching-up" previously under-reported depreciation. After obtaining a cost segregation report, you can "catch-up" depreciation without filing any amended tax returns.

Another meaningful source of tax deductions is to scrutinize any cash expenditures which are being capitalized. Have minor repairs been capitalized in error? Are there more significant repairs which do not clearly extend the life of a component? Discussing these items with your accountant can yield additional tax deductions Also review items which were capitalized in prior years; can you claim any of them as current year tax deductions?

Child labor can be good when they are your children and you claim a tax deduction. Consult your accountant or CPA but this can generate additional tax deductions of $5,000 per child, upon which they pay no taxes. (If they are feeling generous, they may return the money as a tax-free gift.)

A tax-deductible vacation is an attractive option to make an expenditure deductible. Simply plan a vacation around a business trip for a meeting or seminar. Your airfare and hotel for the business period are deductible. Hotel before or after the business activity and your spouse's airfare (assuming that your spouse is not involved in business) are not deductible. Half of meals during period with business activity are deductible.

Reviewing personal expenditures can generate additional tax deductions Items used for business such as computer, printer, office supplies, seminars, association dues, and business publications can be deducted. Long distance business phone calls can also be deducted. Self-employed persons can deduct the entire cost of health insurance premiums.

Record keeping for tax deductions does take a modest effort. However, the federal income tax savings make it worth the effort.

Cost segregation produces tax deductions and reduces federal income taxes across the country and in every size market. Below are just a few examples of cities where cost segregation generates meaningful tax deductions.

City:

Las Vegas, NV

Boston, MA

Tampa, FL

Hartford, CT

San Francisco, CA

Memphis, TN

Miami, FL

Denver, CO

Phoenix, AZ

Orlando, FL

Boise, ID

Chicago, IL

El Paso, TX

Oxnard, CA

Rochester, NY

Cincinnati, OH

Jackson, MS

San Jose, CA

Fresno, CA

Charleston, SC

Omaha, NE

Oklahoma City, OK

Buffalo, NY

Albuquerque, NM

San Antonio, TX

Charlotte, NC

Allentown, PA

Austin, TX

Baton Rouge, LA

Jacksonville, TN

Cost segregation produces tax deductions for virtually all property types, including the following:

Property Type:

Used car lot

Research and development

Nursing home

Lumber storage

Truck stop

Tennis club

Hospital

School

Movie theatre

Lodging

Almost every industry, including the following, can generate cost-efficient tax deductions by using cost segregation.

Industry:

Golf courses and country clubs

Textile product mills

Nondurable good wholesalers

Durable good wholesalers

Real estate lesser

Electrical component manufacturing

Textile mills

Laundry facilities

Automotive parts distributors

Plastic and rubber products manufacturing

Purchasing International Real Estate - Worldwide Property Investment

Interested in investing somewhere other than your back yard?

Management companies have made it as easy to have a revenue property across the world as it is to have it across the street. You don't want to be collecting rents and plunging the toilets no matter WHERE it is!

Different laws in different countries means some research is definitely in order. Some countries don't allow you to own the land, you have to lease it. Check on title insurance to make SURE you really own it.

And just as people have bought swamp land in the United States, you need to actually VISIT your property - look at it, make sure that it is in a good area, and looks to be a good investment.

Pictures can be VERY deceiving, and if your lot is next to the city dump, for example - it'll be hard to make a profit on it! Put at least as much effort into buying a $200,000 piece of real estate as you would into buying a $10,000 used car. You'd definitely want to see it, inspect it closely, go for a spin around the block and see how it performs on the highway. Okay, that's tough to do with a piece of land, but take a walk around, get in an inspector, ask the neighbours what they think.

Probably the most important aspect of buying a property in another country is the managment company. If it is rented out, and rents rise, over time, the property will pay for itself, and pay off the mortage. In other words, with rising rents, you basically get revenue properties for free, over time. The renters pay your mortgage.

BUT.....

If you have tenant troubles, people moving in and out and big costs for re-renting, repair and renovation on an ongoing basis, let alone outright destruction - you may never see that happy day when the mortgage is paid off and some appreciation has occurred. The management company is either really good, concerned about your investment, or it is careless. Over time, THIS is the most crucial part of your investment, and should be VERY closely looked at. Talking to other clients is a quick way to get a read on their performance, and you should ask for these types of references.

Any real estate investment needs to be held on a long term basis to allow rising rents and rising property values to almost automatically make you money. A short term hold goes against these trends, especially when you factor in realtor fees, and development company profits if it is new construction. Make sure that it will truly be a "hands off" investment, and hopefully it will yield some headache free profits!

Getting Started in Real Estate Investing

Introduction

This article has been written to provide a novice person considering real estate investing some fundamental concepts to consider as you commit yourself to this area of interest. Like all new endeavors explored, it will be to your advantage to have some basic knowledge on the particular topic before you can truly appreciate if this is right for you.

What Are The Financial Benefits Of Investing In Real Estate?

There are various opportunities that will financially benefit you by investing in real estate. Based upon your current financial condition and future investment goals, there are many factors that must be considered when selecting both a business model as well as a specific project. The following section will provide an overview on the significant financial benefits that are achievable when you invest in real estate.

Property Appreciation

Although predicting future appreciation with great certainty is not feasible, by looking at specific economic indicators can assist the Real Estate Investor in understanding future trends with regards to property value and possible appreciation. Some of these key indicators are as follows:

Job growth

Job growth is a key contributor in establishing possible future appreciation. As Primary jobs (those jobs that export products outside of the local area like the car makers of Detroit) increase, the need for Secondary jobs will also increase by 2-3 times the number of Primary jobs. Secondary jobs provide services to the people performing the Primary jobs. Examples of secondary jobs include the following:

� Restaurant workers

� Retail store workers

� Local trades (plumbers, electricians, builders, etc.)

� School employees

Demographic Trends

Demographic trends are another factor to consider when trying to determine if an area has the potential for future appreciation. Demographic research will provide data on the general population of an area which includes the following:

� Population Changes

� Age distribution

� Income

� Family Size

� Race

� Owners verses renters

� Marital status

Revitalization Initiatives

Another factor that can affect the appreciation of an area is any revitalization initiatives the local government is undertaking. Revitalization can include the following:

� Improvements of roads and transportation

� Condemning and removing abandoned houses and buildings

� Crime reduction

� Tax credit, grants, and loans to developers and Investors to come into the area as well as programs to help keep the current employers from moving away.

Economic development offices from the local government are typically responsible for implementing and managing the revitalization efforts.

Cash flow

Another aspect of how to financially benefit from real estate investing is through the creation of cash flow. Although there are many factors that are taken into consideration that derives your cash flow, simply put, it is the amount of money left over for you after all of the expenses have been paid.

The term cash flow is usually associated with properties that you are holding and generating income from rental units or homes. The great thing about creating a cash flow stream is that it will typically continue whether you stay in bed all day or off on a vacation. However, sustaining this cash flow will take some effort on your part and may include the following:

� Maintaining the property

� Managing the existing tenants

� Keeping the property occupied

� Managing property management companies

Equity

Property equity is the difference between the fair market value of the property and the sum of all of the loans against the property. For example, if a property is worth $250,000 and there is a first and second mortgage totaling $200,000, the property has $50,000 in equity. Having equity in your property is essential in order to have a cushion in the event the market exhibits declining value during the time you are holding the property. By utilizing strategies like a loans.blogspot.com/" title="refinance loans">refinance or Line of Credit, it will allow you to pull this equity out of the property and use it as you see fit including a return of your initial investment or to leverage this capital to purchase another property. Although having strong cash flow with your properties is vital during your hold times, this income stream will disappear if you ever need to sell the property. Ultimately, it is the equity in your properties that will help set the stage for your long-term wealth creation and financial security.

Tax Incentives

In addition to the benefits mentioned above, there are outstanding tax incentives that the real estate investor can benefit from, they include the following:

� Depreciation of the actual property and any capital equipment that may be utilized in your business.

� Deductions resulting from expenses from owning and managing the property the property as well as business expenses you may incur.

� IRC 1031 exchanges, this is a powerful tax strategy that will allow you to leverage Capital Gains taxes that you would normally pay on the sale of an investment property and defer paying those taxes by purchasing a "Like-kind" replacement property with the full proceeds you received from the sale.

Why Do You Want To Invest In Real Estate?

It will be important for you to understand what reason(s) have motivated you to be interested and involved with real estate investing. Over the years, I have spoken to many new Investors on this subject and I have boiled it down to the following reasons:

Supplement Your Current Income

There are some people who are looking at just supplementing their current income without the intention of leaving their current profession and look at real estate investing as their second job. The Investor's that fall into this group are fortunate because they are not relying solely on real estate investing as their primary source of income, this will be very beneficial during the time you are developing you real estate skill set and investment portfolio.

Take Control of Your Financial Future

Based upon the many years of speaking with Real Estate Investors, perhaps the most compelling reasons people consider real estate investing is the ability for you to have a significant influence of your financial security and for you to control the level of income you would like to receive.

Create a Retirement Plan for Yourself

Using real estate investing as a vehicle to establish or augment a retirement plan is another common motivator I hear frequently from new investors. It is understandable that when economic conditions include downsizing, cost of living increases, and the fear of Social Security meltdown, people are concerned about having an adequate financial foundation to sustain them during their retirement phase of life.

Critical Things to Consider Before Considering Real Estate Investing

Investing in real estate is certainly not for everyone and it will be important for you to honestly assess if this is the right path for you. The following section will provide some basic questions you should ask yourself as you evaluate the feasibility of becoming involved as a Real Estate Investor.

How Much Time Will You Have To Dedicate Towards Real Estate Investing?

As we all know, you can't create anymore time; there can only be 24 hours in a day. As you consider real estate investing, you will need to be realistic with regards to how much time you will have to devote to this endeavor. With today's fast paced society that requires multiple income sources combined with the commitments you may already have with your family, many people can be left with little or no time to devote towards their real estate investing goals.

Are You Able To Motivate Yourself And Have The Discipline Required To Succeed?

Having the desire to be a successful Real Estate Investor is only part of the equation for ultimate success. Along with the desire to succeed comes the need for you to be able to motivate and discipline yourself. Real estate investing is certainly not for everyone despite the late night infomercials that try to convince you otherwise by implying "If I could do it, anybody can"; this is just not the case. Successful Real Estate Investors have the ability to both self motivate and provide the discipline which allows them to remain focused on their plan; this personal characteristic is what helps them to establish and sustain their success.

Can I Do Real Estate Investing Part Time?

A topic I address frequently with novice Investor's is if it is possible to become a successful Real Estate Investor if you can only commit to it part-time. If I reflect on the many Investors I know and people I have spoken with over the years who are employed in real estate full time, the vast majority of them have started out on a part time basis. By initially starting out in real estate investing on a part-time basis allowed them to develop their business model and skill set and to achieve "financial wins" along the way to a full-time status. Having small financial wins during the early stages is critical in building confidence and to create a solid financial foundation to bring it to the next level of full-time status.

Do The People Around You Support Your Desire To Become A Real Estate Investor?

One of the key recipes for success in real estate investing as well as any new initiative you are taking on is for you to have the complete support from the people around you. Nothing can undermine your excitement and motivation more than to have a family member say to you "Are you crazy investing in real estate, remember the last get rich quick scheme you tried!" Not having complete buy-in is a real issue that I frequently address with new Investors. Although the specific reasons for the lack of support from family members vary, what are common are the effects of this negative energy. Typically, it can cause significant conflicts or in some cases may cause the excited Investor to "throw in the towel" on their investing dreams

Are You Prepared To Take On Some Financial Risks?

As with all business and investment ventures you may consider, there needs to be a realization of any potential financial risks as well as an understanding of how these risks may affect the people you are financially responsible for. It is one thing to take some bonus money you have earned throughout the year and apply it to an investment plan; it is a completely different story to pull funds you have accumulated for your child's education. With regards to investing money in any type of financial opportunity, if the possibility of losing your capital will have devastating effects on you and your family, than perhaps you may need to reconsider your investment strategy.

Performing a Financial Assessment

Another consideration you will have to factor in to your decision of investing in real estate is to take an assessment of your current financial situation, this assessment is critical to determine if you will be able to provide the required capital personally or will need to utilize creative financing opportunities like Sellers Financing and OPM (Other People's Money) techniques.

Keep in mind, even if you can provide the required financing for your first project, where do you go after that. Eventually, you may be faced with the challenges of running out of the necessary capital that is required in order for you to achieve your desired goals.

Address Your Personal and Business Credit

Another consideration you should address is your personal and business credit. As you embark on real estate investing, having good credit will be critical to participate in many of the investment business models that are available to you like flipping or Hold to Rent. Since you may not have all of the capital resources required to purchase an investment or to provide working capital for your company, it may be necessary to seek out loans from traditional or private lenders. Remember, even if you can completely finance your initial deals, at some point, you will run out of capital and will need to rely on others to provide it. Having a good credit history will not only make a statement with regards to your current financial situation, it will paint a picture of your past financial responsibilities and how you handled them. Even if you are planning on bringing on a business partner or participate in a Joint Venture project, your credit history will help set the stage for people to feel comfortable entering into any business venture with you.

Will You Be Bringing On A Partner?

Another option for you to consider as you begin your real estate investing plans is weather you should bring in a business partner or to do this on your own. This decision should not be taken lightly because it could have a direct impact on your ultimate success. Some of the benefits of bringing in a partner are summarized below:

 Allows you to share in the financial risk

 Benefit from someone who has other critical skill sets or experience that you do not have

 Availability of more capital

 Share in the day-to-day operation and required decisions of the business

 It will help to motivate you and to be accountable to each other.

Just remember, having a business partner will not necessarily ensure that your business will achieve greater success; if you have selected the wrong partner, they could in fact jeopardize the success of the business and perhaps your relationship.

Another option you may want to consider instead of bring on a full blown business partner is to team up with another Investor and just do single deal together and if it works out, you can consider doing other investments together, this arrangement is called a Joint Venture Partnership. This is a great way to "Test" the viability of bringing your relationship to the next level.

Do You Have A Game Plan To Help Achieve Your Success?

One of the most fundamental mistakes I see novice Investors do time and time again is to set out with great intentions of investing in Real Estate but they fall short of putting together a comprehensive plan that will assist them in their journey to success. Without a plan, there is no way to effectively identify and manage all of the things you need to do to achieve your high level goals. Without a comprehensive plan, you may not even know what your high level goals are! The tool that will help you understand how to build your foundation and set the stage for your long-term success is called the Business Plan. Many people I talk to about generating a Business Plan understandably push back at first but once they really understand the benefits, they become a believer. Here are some of the typical initial responses I get when requesting that my coaching clients create a Business Plan:

� "Aren't they just for large companies?"

� "I'm not sure I know what I want to do"

� "I don't see how having a Business Plan will help me get started"

� "I will create a Business Plan after I get my first deal"

The development your Business Plan will not only assist the novice Investor get off the ground, it will also be extremely valuable to the established and seasoned Investor looking to further develop their business model or to expand to a new one.

What Is A Business Plan?

A Business Plan is a document that you create that will identify the intentions of your business model. Some of the common areas a Business Plan will cover are as follows:

� Your short-term and long-term financial and business goals

� Identify the specific business model you will be involved with

� How you will operate the business model

� Who will be part of your business

� Identify the financial needs of the business

� Identify the specific activities that will be required for you to achieve your business goals.

� Identify Risk and Risk Management strategies

Your Business Plan is a living document and should be referenced frequently. In addition, as you are developing your business model, your Business Plan should be adjusted as required. There are many variations of a Business Plan based upon the specific purpose of the document. Some of these purposes are listed below:

� Trying to secure financing

� Looking for a business partner

� Using it to help you in the development of your business model

Do You Want To Participate In A Passive Or Active Business Model?

As an Investor, you will have the option of investing in Active and Passive business models, let's discuss the differences.

Passive Investing

Passive Investing are investment opportunities where the Investor does not participate in any active role in the operation of the business model or investment instrument. Typically, Investors would just provide capital and would rely on another person or organization to actively work the business model. The Passive Investor usually does not have any control on the financial outcome of the investment. Some examples of a passive investment are as follows:

� Purchasing a CD

� Investing in Stocks and Bonds

� Holding a loan or mortgage for someone

� Providing capital for someone else to actively use

� Joint Ventures

Active Investing

Conversely to passive investing is active investing; this is when the Investor is directly involved in the operation of the business model and typically has full or part responsibility for the financial outcome and successes of the business model. Some examples of active investing are as follows:

� Purchasing a property and Flipping it

� Purchasing properties and holding them to rent

� Bird-dog services (locating investments for other Investors)

� Wholesaling properties

Is Passive or Active Investing Right For You?

When considering either active or passive investing, many factors need to be taken into account like lifestyle, short verses long term goals, cash flow verses long-term wealth development, etc. It is strongly recommended that you consult with your Financial Advisor and Accountant to fully understand how these decisions will affect you both today as well as in the future.

Will You Invest Locally Or Out Of the Area?

Another consideration that you will need to address as part of your decision to invest in real estate is if you should invest locally in your own back yard or to consider out of area and possibly out of state investing. Overwhelmingly, most of the novice Investors I have spoke with over the years seems to be much more comfortable with the thought of investing based upon the convenience of the property being easily accessible. Understandably, the thought of driving or flying a few hours to check on a property just doesn't sit well with most people.

My response to inquiries from curious new Investors about "where do you think I should I start my investing" usually includes a question back to them like "do you think you can achieve your investing goals locally" and the responses are typically "I don't know"; it just feels better to them. Most people are reluctant to move outside of their normal comfort zone, and for the average new Investor, out of area and out of state investing can be really be a frightful thought. Understandingly so, investing outside of your backyard may in fact add to the challenges of managing your investments. However, if you are willing to open up the window of opportunity and consider investments based upon financial performance not just convenience, than you can truly take advantage of the many exciting markets that are available to you.

Getting Help to Be Successful

Weather your are a novice looking for your first real estate investment or a seasoned Investor, you will need to rely on your professional support team to help you achieve your investment goals successfully; this team should be considered as an extension of your organization and may include the following:

� Attorney

� Accountant

� Realtors

� Coach

� Contractors

� Traditional and private Lenders

� Engineers or Home Inspectors

� Property Manager

� Financial Advisor

� Title Company

My experience as a Coach has validated that many new Investors are not implementing their support team at the appropriate time. A common misconception is that Investors should bring in the appropriate people after they have a deal they pulled the trigger on. This type of thinking is completely backwards, your support team should be advising you to make sure you are selecting the correct projects and to ensure your business structure is sound before you start looking for a deal.

Asset Protection

One area many new Investors seem to overlook or ignore is to develop a comprehensive asset protection plan; ideally, this plan should be in place before you start to acquire any of your investment properties. In addition to setting the stage for outstanding tax benefits, having a robust asset protection plan will help to eliminate or minimize your personal liability in the event there is a lawsuit connected to one of the properties you own; the last thing you need is to have someone take away everything you have worked hard for because you were not properly protected.

Marketing and Networking

Regardless of what type of real estate business model you are interested in, having a comprehensive marketing and networking campaign will be an essential tool in establishing and maintaining your investment success. By having a strong network in place will help to set the foundation for many opportunities to develop which could include the following:

� Locating a business partner or Joint Venture Partner

� Receive investment opportunities

� Present investment opportunities

� Connect to services and products you may need

� Locate investment capital

Training and Education

As you embark on any new endeavor, when it comes to training and education, you can never have too much. However, you will need to exercise caution to ensure that you will not be overwhelmed in both the volume and scope of information you are trying to absorb and process, this is commonly referred to as information overload. On one hand, it is very beneficial for you to see the numerous investments options available to you so you can select the best one that fits your goals and interest.

Types of Education

Education comes in many forms that can benefit both the new and experienced Investor. Each person comprehends information differently and therefore one method is not best suited for everyone; some prefer reading books while others need a more structured and formal educational process. The following is an overview of the various educational opportunities that are available to you that you may want to consider:

� Real Estate Shows

� Boot Camps

� Joining Investment Groups

� Participating In a Coaching Program

� Teleconferences and Webinars

� On-line Courses

� Adult and Continuing Education Programs

Be Careful Not To Dilute Your Focus

There is one challenge that you may face as a new Real Estate Investor that you need to keep in mind. Be careful not to dilute your efforts by trying to learn and implement every real estate business model available. On one hand, getting an overview understanding of the various business models will allow you to better select a strategy that is best suited to meet your investment goals and personal interest. However, when it comes to developing a business model implementation strategy, you may be setting yourself up for failure if you try rolling out various models simultaneously.

Should You Start With Single- Family or Multi-Family Properties?

Still another consideration you will have to think about is if you want to initially invest in single family or multifamily properties; this has historically been a frequent topic of discussion with many people I meet. Many of the textbooks and educators out there today promote starting with single family properties and then at some point in your development transition to the multi-family model. There can be some inherent flaws in this thinking because in general, single family investing can come with more financial risks. An example would be if you are just starting out investing in single family properties and let's say your only property is vacant, you may have to pull money out of your pocket to cover expenses. Using the same example, if this is a multifamily property, when one unit is vacant, you will still have the other units that can help cover the expenses.

The following section will provide some highlights in understanding some of the areas that could represent risks and challenges in determining what a good deal looks like. If you are not preparing yourself to consider these issues, it could set the stage for the end results to be nothing short of disastrous.

Where Is The Local Market Heading?

It will be vital for you to understand how the dynamics and trend of the local market can affect the short and long term value of the property.

Have an accurate assessment of the rehabilitation and holding costs. Here is an area where many inexperienced Investors can get themselves in deep trouble. Unexpected repairs and delays will eat away at your bottom, line or worst can push the final "Basis Price" into a zone where it is no longer attractive as an investment.

What Profit and Cash Flow Margins Are You Comfortable With?

Having strong cash flow and profit margins in the investment opportunities you are considering will be your buffer in the event something goes wrong in the execution of your plan and can include the following:

� The rent rate you were expecting is not achievable

� Rehabilitation and holding cost growth

� Can't locate a buyer for the property

Strong margins will give you the buffer that will allow you to make adjustments in your return expectations without getting hurt too much.

The following section will provide an overview of the common business models available to the Real Estate Investor.

Bird-dogging

In today's market that is overflowing with many motivated sellers, it becomes very important to the Real Estate Investor to have a comprehensive network of people "on the lookout" for them; this is where a Bird-Dog comes in. The role of a Bird-Dog is to locate good investment opportunities and present them to their pool of Investors for consideration. If an Investor proceeds with the purchase, the Investor will pay a finder's fee to the Bird-dog. A Bird-bog typically is not part of the actual transaction and with the possible exception of a Fee Agreement they may have with their Investors, their name will not appear on any of the legal documents. In addition, the Bird-dog has no right or control to affect the outcome of a purchase presented to the Investor once there is a meeting of the minds between the seller and the Investor.

Wholesale (Assignment)

The Wholesaling business model has continued to hold its ground as a very popular business strategy with both new and experienced Investors. The current buyers market that is overflowing with Short Sales, Foreclosures, large inventory, and motivated sellers has set the stage for outstanding below market value acquisitions. The basic structure of a wholesale transaction is fairly straight forward and the major steps are listed below:

� Locate a property that has significant equity or equity potential after renovation, commonly referred to as after repaired value (ARV)

� Tie the property up by entering into a Sales Contract

� Locate another Investor or end user who would be interested in the property.

� Assign the contract to the new buyer

� The new buyer will proceed to close on the property

� Upon a successful closing, you will receive an assignment fee.

What makes the Wholesale business model attractive for Investors is once you have located your replacement buyer and assigned the contract, your work is done. Now it's just a waiting game until closing (and your assignment fee). In addition, since you will not be getting involved in any renovations and remarketing, it will allow you to focus on getting the next project in the pipeline.

Hold to Rent

The hold to rent business model is extremely popular among successful investors. In this model you will hold property with the intention of utilizing them as rental units. This is the business model that will ultimately lead towards explosive wealth building opportunities for the investor. Due to the nature of this business model, it is possible to take advantage of any market location local or otherwise. There are a number of business models within this business model that include the following:

� Student rentals

� Seasonal rentals

� Safe housing rentals

� Single Room Occupancy (SRO's)

� Luxury rentals

� Subsidized housing rentals

One of the significant benefits of this business model is the ability to add value to the property. For the investor who purchases a nonperforming hold property and turns the property around, they can benefit from outstanding organic equity growth. Some of the things that may be required to transform the property may include the following:

� Raising rents to the current market value

� Removing deadbeat tenants

� Add new amenities

� Reduce tenant turnover

� Improve the curb appeal

� Change the property management company

Other significant benefits of this business model are the outstanding tax deductions and incentives available to you. It is strongly suggested that you consult with your tax advisor in order for you to implement an effective tax strategy.

Flipping

With the Flipping investment model, the Investor will purchase and close on the property and then will sell it to either another Investor or an end user. In many cases the property may go through a rehabilitation phase prior to the re-sale. The following will highlight some key factors to consider when pursuing this business model:

Capital Requirements

The Flip business model can require significant capital resources and is broken down into the following categories:

Acquisition Costs

Down payment and closing costs: Due Diligence costs which can include hiring a Property Inspector.

Repair costs

Materials and labor required for the rehabilitation

Holding costs

Mortgage payments

Insurance and taxes

Utility bills

Security

Selling costs

Marketing

Brokers commissions

Closing costs

One of the benefits of this business model is that your initial capital investment that you had to utilize for the complete flip cycle which includes acquisition, rehabilitation, and resale can be re-used again on your next deal while pocketing some profits along the way.