Archive for April, 2008

Locate Private Property - Is Internet The Better Choice To Market Your Property When Compared To New

Sunday, April 27th, 2008

By Cheow Yu Yuan

Sometimes the process of locating a private property to buy or rent is very frustrating. There are 2 mediums that I always depend on to look for my ideal property and they are the Internet and newspaper. If you want to successfully locate your ideal private property, you need to effectively make use of both Internet and newspaper. However, Internet is slowly becoming the better choice to look for property when compared to newspaper.

Nowadays, searching for information on the Internet is so simple due to the wonderful search technology provided by Google. If you are looking for property, there are tons of property listing directories and information available on the Internet.

Although searching for a property through newspaper is still useful and sometime effective, it is a very time-consuming process. You have to read through many pages of listing and sort them out yourself. Then you still need to call up the agent one by one and arrange an appointment to view the property. With online property listing, you can browse through hundreds of listing easily and have all the necessary information including pictures in a single listing page. Once you find the one you like, you can contact the agent directly through the listing and he or she will call you back.

Moreover, newspapers usually update their property listings weekly when compared to daily updates by some of the more popular online property directories. With this, if there is a deal happening in the meanwhile, you will not miss out on it.

To find some useful and popular property directories, you can go to Google and type in “property directories” or “property listings” in the search query box. You can also choose to add the name of a city or country at the back of the query like this: “property directories Singapore”, so as to make Google returns a more relevant search result based on your preference. Listings on the Internet are updated everyday which ensures that you will not miss out on the latest deals available.

So, if you are currently only using newspaper to source out for your ideal property, give Internet a try and see the difference it makes to your sourcing process. Furthermore, with Internet listings, you will not need to go through all the different property listings. You can just use the site’’s internal search function to locate a property either by its address or target area. This will really help quicken your sourcing process.

Once you have found your ideal property, call the agent by getting his or her phone number directly from the website. Then, print out the listing to take note of the address and you are ready to go shopping. How easy can it get?

About The Author

To locate or list private property for sale and rent in Singapore, visit the website below now:

Click Here: http://singaporeproperty.myoochi.com

Private Property for Sale - Finding An Agent to Sell Your Private Property

Sunday, April 27th, 2008

By Cheow Yu Yuan

If you have a private property to sell off, you need to find a professional property agent to facilitate your selling process. A property agent is a professional who help in connecting buyers to you in the property industry. A good agent will help you to sell off your private property faster. Some of the property agents also do link up tenants to landlords for property rental. So if you intend to rent out your private property, you can also look for a property agent.

There are many ways to find a property agent to help sell your house. Newspaper, flyers, real estate chatroom and property listing directories are great places to find an agent. One of the fastest ways to find an agent is to log on to your local property listing directories. You should be able to find a couple of them there.

How does a property agent earn money from you? He or she earns from you by linking you up with potential buyers and charging you a commission when a deal is confirmed. If you are selling a property, the commission is usually charged to you, whereas if you decide to rent it out, the commission will be charged to you and the tenants involved in the transaction. So how much does an agent charges? It is usually a percentage of the selling price or part of the rental. Therefore, before you engage him or her, make sure that you find out what is the percentage fee the agent is charging.

Once you have engaged an agent to represent you, you should leave the keys with him or her so that whenever there is someone who is interested in your house and wants to take a look, the interested party can contact your agent directly. This will speed up efficiency and save you lots of hassles.

One of the benefits to look for an agent to sell your private property is that a lot of home seekers love to seek out property agents to get properties fast. As the agents are very familiar with the real estate industry, it makes sense for home seekers to approach them and get ideas of the going rate for properties in their respective region. This means that your agent will have a very wide network of potential buyers and you absolutely need to leverage on that.

Last but not least, you need to look for trustworthy agent to represent you. You should go to property website and directories which offer reviews and testimonials of agents for the transactions that they have done it the past. If you are comfortable with review of a particular agent, you can contact him or her for a discussion to sell off your private property.

About The Author

To locate or list property for sale and rent in Singapore, visit the website below now:

Click Here: http://singaporeproperty.myoochi.com

Why Online Property Valuation Sites Are Becoming Increasingly Popular

Saturday, April 26th, 2008

By Thomas Pretty

When we sell our property it is easy to give a valuation that is in fact over the actually worth. This happens because many of us build up an emotional attachment to our property and tend to place higher value upon it. A great way to gain a property valuation that is valid is to use an online property valuation service. This should help you create an unbiased and independent valuation of your home, just do not be to put out by the figure the online system may produce.

The process of gaining an online property valuation could not be easier. There are many sites online that will be able to carry out the valuation for your property. In some cases this can only take an hour and leave you with a valuation that gives you real idea of what your property is worth. Having this knowledge is useful whilst performing the task of selling and used regularly can help you keep up to date with market fluctuations.

Naturally, some people will worry of the trustworthiness of some of these sites. Whilst there may be some unscrupulous online property websites out there, the majority are trustworthy. Some are even related to the major banks and estate agents making any motives to hoodwink users a pointless exercise.

The majority of these online property valuation websites are more than happy to give information on their business. Giving users information on the history of their company and the ways in which they operate can help create clarity. The vast majority will also possess customer service sections that create a portal for direct contact should any major issues occur. This is the minority of course; the efficiency and user satisfaction with online valuations is on the whole, good.

The process of gaining a valuation for your property online is relatively simple; most of the time it involves filling in a form. The information on this form is then compared with similar information on a database with thousands of other property valuations. If your property is quite generic it can be extremely useful, unfortunately if your property is dissimilar to other properties and has distinct features the valuation may be less accurate. When filling in the form, ensure any features that are distinctive are described in detail to aid the database in making the most complete comparisons.

Trustworthy online property valuation sites will not give out your personal data to any external companies. For instance there should be no way that a potential buyer will be able to find out who lives in any particular property. This is obviously a major concern in the ever increasingly sceptical world of the consumer.

Online property valuation sites can also be a useful tool for buyers as well as sellers. With so many properties listed on a database a buyer can receive a quick and accurate estimate on any particular type of property. This can be fortuitous for those who are in the redesigning and renovating business, as finding properties that are ripe for investment is a major constituent of the process.

While an online property valuation is a valuable and efficient tool for getting a general idea of the worth of your property it is purely a guide. The values given by these sites are rarely cast iron and should be taken with pinch of salt. If you are in the process of selling your house it is usually worth asking an estate agent to come and make a valuation personally; while if you are trying to re-mortgage, a chartered surveyor will have to have a look for the bank to agree to a new mortgage figure. That said, these websites provide a useful resource for sellers and buyers to gain a ball-park figure for properties, giving them a better idea of what they can afford and what is feasible to purchase.

About The Author

real estate expert Thomas Pretty looks into increased use of online property valuation tools and how these can be useful for sellers and buyers. To find out more please visit http://www.haart.co.uk/sell-house/house-valuation-online.aspx

The Responsibilities Your Estate Agent Should Be Able To Fulfil

Saturday, April 26th, 2008

By Thomas Pretty

When selling your house making the choice of estate agent can be difficult. Getting this selection wrong can be extremely detrimental to the sale of your property, costing you both time and money. While this advice is in no way all encompassing it acts as a brief advisory tool for those selling their property. Hopefully it will allow the reader to select the right estate agent and receive value for money and a speedy sale.

First and foremost a major concern should be the operating hours of your estate agent. Many agencies will shut at around five in the evening which can be a problem if you work all day. As a result, finding an estate agent that stays open until later in the evening can be advisable. Obviously weekends are an extremely busy time in the property market so make sure your agent is open at least Saturday and preferably all day Sunday. It is also worth asking who will be on duty over the weekend as full time staff are usually more efficient than part timers.

When selecting your agent have a look at the way their pay structure is formulated. Advisably you want an agent that operates on a ”no sale no fee” structure. This put simply means that the agent is paid on results. It also means that you will not have to pay anything until the successful sale of the property is evident.

Look at the means of advertising that your estate agent will employ. The exposure of your property is of vital concern and should be one of your highest priorities. The agency you use should have a regular page in a local newspaper and preferably more than one. Added to the shop window, they should also utilise the internet effectively to market your property to the largest possible audience. The fees for this advertising should form part of their fees.

When it comes to the pricing of your property your agent should be well informed on the current housing market and the prices that similar properties in the area have sold for. The price that is given to your property is extremely important to the chances of a sale. Over valuation can harm the sale by putting buyers off while an undervaluation may leave you with less funding than you had initially hoped for.

Another important consideration is how the estate agent contacts possible buyers. Most should have a computerised database of buyers that may be interested in your type of property to achieve ultimate efficiency. By asking how many buyers they already have on their database who may be interested in properties like yours is important to evaluate how much interest will be generated. It is down to the agent to contact these buyers and secure a viewing of your property.

Finding an estate agent that can communicate with you effectively of feedback from viewings will help the sale of your property. An efficient operator will keep you up to date with regular contact on any developments. It is not just information on viewings; they should be able to provide you with information on the response to the advertising campaign and the number of buyers who may be interested.

Once you have experienced initial success and a sale has been agreed, your agent should be able to pursue this vigorously. Currently it is estimated that almost a third of sales fall through so enquiring about the procedures that occur when a sale has been agreed is an important question to ask.

While this advice is in no way a complete guide, it gives property sellers some idea of the responsibilities that an estate agent should be performing. If your agent is failing to fulfil these tasks it may be worth finding a new one.

About The Author

Property expert Thomas Pretty looks at the responsibilities your estate agent should fulfil to aid the sale of your house. To find out more please visit http://www.haart.co.uk/

Bursting The Real Estate Bubble

Friday, April 25th, 2008

By Dan O”Connor

A real estate bubble, or housing bubble exists when a local economy experiences an accelerated growth rate in housing prices or values and then the market “corrects” itself once values have reached their peak for various reasons. Generally followed by a correction or more drastically, a crash, real estate bubbles have caused many inexperienced investors to panic.

During the period of growth in a particular area, a real estate investor can make a fortune if they use purchase techniques like house flipping or short term holding. Periods of accelerated growth typically allow the investors to buy at near or full retail value and still make a reasonable profit as a result of appreciation.

However, an area affected by a real estate bubble will generally have retail housing prices and appraisal values increase in disproportionate numbers. At times, it can be an unrealistic increase due to various economic factors. The result can be good for an investor who just purchased a distressed property in the area where appreciation is steady.

What typically happens in that scenario is that the investor buys the property for pennies on the dollar based on today’’s value. As the so-called real estate bubble grows, the value of the property goes up as well. Hypothetically, an investor could buy a property for $75,000 and resell it for $150,000, making almost a 100% profit, after deducting any fix up expenses and holding costs.

Here’’s a little secret that all real estate investors should take to heart: You should ALWAYS buy properties at steep discounts because your profit is made when you buy, and realized when you sell! Simply banking on constant appreciation is not investing, it’’s speculation or may even be considered gambling.

A professional investor can recognize the signs of a localized real estate bubble and avoid areas that are affected, waiting for the opportune moment to buy. Now understand that not all areas are affected by unnatural growth.

This means there are still properties a savvy investor can obtain without taking undo risks. Understand that there are profitable deals in every market place no matter how hot or cold that local market is. You only need to know where to look.

The so-called national real estate bubble (market correction) of 2007-2008 has found many mortgage companies on the verge of bankruptcy or declaring bankruptcy, creating a backlash resulting in a virtual implosion of the entire sub prime lending industry. In many instances, home owners were holding short term Adjustable Rate Mortgages (ARM) as well as negative equity mortgages that they should never have obtained in the first place and when a little bump in the road appeared, foreclosure soon followed. Many local economies have now begun to stall as panic became widespread.

However, the real estate bubble bursting in various markets made conditions perfect for even a novice real estate investor to earn substantial profits.

When a real estate bubble does burst the result is usually a substantial increase in foreclosures, as reflected by the constant deluge of media exposure seen during this election year of 2008. The “big picture” is that property values start to decrease to a more realistic amount due to the cooling off period. Housing prices begin to fall, sometimes slowly and other times at a frightening pace.

While many folks are running around screaming that the sky is falling, there are scores of educated investors who understand that this is a prime time for a buying property. It becomes, what it referred to as, a “buyer’’s market.” Investors like a buyer’’s market for obvious reasons. More profits are realized during times of economic panic. End home buyers also win because interest rates are currently low and the result is generally more house for the money for qualified buyers.

In Your Own Backyard -

A real estate housing bubble not only affects the housing market, but the entire community. As prices fall, new home construction oftentimes slow to a crawl. Contractors can start to lose money as their inventory of houses sit for months unsold. Skilled tradesmen can be laid off as consumer spending slows down. People start buying only what is necessary as the media paints a constant gloomy picture. The local economy sometimes slows to a stand-still. When a real estate bubble bursts, the local economy oftentimes suffers for quite a while and the recover time can be extremely slow.

At this present time, the bursting of the housing bubble in many areas has a lot economists worried. However, any educated investor knows that real estate values are cyclical and the markets always return to their previous position.

The Sky Is Not Falling -

To determine if a local marketplace is caught in a real estate bubble, the smart investor must look at several things. The most important clue comes from the sale history of local properties. Hypothetically, if a house sold for $65,000 three years ago and the owner is presently able to sell it for $145,000 rather quickly, it is a pretty good indication that the local economy is booming and healthy, not caught in a real estate bubble.

When a local real estate bubble is expanding, investing can obviously be tricky. A wise investor will proceed with caution and fully understand that their buying and selling strategies may need to be modified.

It All Boils Down To Knowledge And Calculated Action-

The bottom line is that any market place has plenty of highly profitable deals if an investor knows where to search. Education and persistence are keys to successful real estate investing. Remember, there is no national real estate bubble and anyone who says otherwise doesn”t fully understand the intracasies of real estate investing.

If you are just getting started in real estate investing or have been considering investing in real estate, you”ll want to take full advantage of the current incredibly low interest rates as well as a seemingly endless supply of profitable deals to be made. Take some time and become educated on the intracasies of real estate investing the right way and then take action because there has never been a better time to get started investing than right now!

About The Author

To discover how to create your own profitable push button house buying system that never fails and to claim your FREE video detailing how Dan O”Connor’’s renowned Your First Deal System will work for you - Go here now: http://www.YourFirstDeal.com

Condo Ownership Right Raised by Thai Government - Purchase Time

Friday, April 25th, 2008

By Gregory Smyth

There are a few things you need to be aware of before buying a condominium in Thailand. The Thai government has recently modified the rules governing the purchase and selling of condominiums. Earlier, foreigners were allowed to own only up to 40% stake in any condo building. This was recently raised to 49% and, as a result of this, more condo units are now available on the market.

This first step in buying a condo should be appointing an experienced and ethical agent to take you around and show you the condos available for purchase. Once you have found a unit, consider how old the building is. Normally, a building over 20 years old may be too risky to invest in. Old buildings may not be properly maintained. Sometimes, old buildings could be scheduled for demolishing in the near future. Examine the documents carefully to find out the age and health of the building. Ask the present owner of the condo what his future plans for the building are.

Sometimes, buying a slightly older building can be beneficial in certain ways. The owner will have a proven track record of maintaining the building properly. You can easily check this with existing tenants. Examine the building carefully to see how well it has been maintained.

It is advisable that you collect as much information as possible before you commit yourself. Consider how much you will be required to pay for the maintenance contract annually. This is usually calculated in terms of the plinth area you purchase.

Also consider if the condo management has set up a sinking fund. Sinking funds often require a one time payment made upon transferring ownership. It usually ensures that the building will be well maintained in future. Some condos require a sinking fund payment annually. Sometimes the sinking fund is paid ”on demand”. Before purchasing, ensure that you understand the sinking fund payment policy well and how much it will cost you.

Also find out if the management has set up an annual insurance premium, and if so, what the amount of premium is. It is also important to know how long the present management team has been looking after the building.

In most cases, the owner pays the transfer fees in full. It is not uncommon that some owners insist you to share the costs 50/50. Ascertain who pays the transfer fees and calculate how much it will cost you if you are required to pay. You can ask your lawyer to prepare a full schedule of the payment of transfer fees, including any income taxes outstanding on the property.

The present rate of transfer fee is 2% of the purchase price in Bangkok and Pattaya. You have to pay a property business tax of 3.3%, and a stamp duty of 0.5%. These rates are, however, subject to change. So ensure that you check them before committing yourself to pay any transfer fees.

You may bring in purchasing funds from overseas to the country. The Thai government has fixed a minimum amount of $US 10, 000 to be brought from overseas. You may not bring all the money into the country until after you have decided upon the property you wish to buy. It is advisable that you bring in enough to pay a minimum deposit of 20% or 30%.

When buying a condo in Thailand, also understand the difference between buying leasehold and buying freehold. Your lawyer will be able to tell you the difference. If you buy leasehold, you will never own the property. Buying freehold gives you full ownership rights on the condo.

In case you will not permanently reside in Thailand after you have purchased the unit and you plan to rent it out, it is advisable that you appoint an agent to manage the unit for you. It is important that you enter into a clearly written contract with the agent. The contract should spell out the conditions of management, including the agent’’s commission, his responsibilities, and the amount he will spend on advertising.

It is highly advisable that you take your lawyer also to the bank when you bring in money from outside to buy a property. It is imperative that you get a T.T.3 form. This form states that the money you brought from outside is used to buy the property. You will have to show the T.T.3 form to the bank at the time of exporting the funds back to your country.

About The Author

Gregory S. is an independent author providing assessment and comments on leading International Property Consultants in Thailand, especially CB Richard Ellis - http://www.cbre.co.th

How To Guarantee A Good Income When Moving Overseas

Thursday, April 24th, 2008

By Catherine Harvey

It has been reported that many people are becoming dissatisfied with life in Britain and are looking to move overseas. This used to be confined to those looking for a change in their retirement years or for those limited people who wanted to make a new start and moving overseas was often seen as a huge move. Not so these days with all corners of the globe becoming ever more accessible and most countries within a few hours reach.

For those wishing to move overseas before retirement, they need to have some form of income. Overseas business investments are always a dubious thing to get into unless you can take advise and be sure about what you are doing. However, the business of French leaseback is coming to the fore as a way of moving overseas and providing yourself with an income as well as a future investment.

French leaseback is less a business opportunity and more a term that covers several different types of businesses that come with distinct tax savings. To check out the advantages involved and to see if the move away from Britain was all it was cracked up to be, we caught up with a few overseas investors of French leaseback properties.

Mr and Mrs Davidson, formerly of Wakefield, moved to France in October 2001 after hearing of the benefits of French leaseback. They had been itching to move abroad for some time and after a fairly impressive win on the lottery, decided to invest in a care home in Provence. ”We have a regular income, we have made massive savings on tax and we love the work”, says Mrs Davidson.

Her husband agrees, adding ”We looked into many types of business to invest in. We still have a lot of working years ahead of us but wanted something we felt would be worthwhile whilst not throwing our money into something we were unsure of. French leaseback allowed us to work with the elderly, who we have much respect for, and enjoy the life in a country we have come to love”.

Another fan of the French leaseback idea is Sarah Kingston. Originally, Mrs Kingston hails from London but after losing her husband in the conflict in Iraq, she felt the need to get away and start again. She took her husbands life insurance and invested it in something she knew her husband would be proud of. Young people.

”My husband was always talking of the help he wished he could give to young people in a world that is so difficult to get a leg up in” said Mrs Kingston. ”He was a great believer in a good education being the basis of all you would need in life and to this end, I have invested the insurance money in a large house in Paris where I let the rooms to students studying in nearby colleges and universities.

”I feel this is one way I can contribute to something my husband saw as important. That of being able to help young people on their path into life. I think helping others is the best way I can carry on his legacy as that is what he died doing.”

For people like the Davidson’’s and Mrs Kingston, French leaseback is a way of moving overseas for a fresh start and also ensuring that their money goes to good use and that they see a good return on it to ensure their own future income.

About The Author

Property expert Catherine Harvey looks at the benefits to French leaseback investments. To find out more please visit http://www.premierfrenchleaseback.com/

As A Real Estate Investor You Must Continue Your Real Estate Education

Thursday, April 24th, 2008

By Omar Johnson

With all things that are done intentionally as a real estate investor your education comes first. A real estate investing education is primary to your success in business, and in all circumstances there is an identifiable pattern of learning that leads from thought to action. When experiencing something new, first you hear about it or learn of its existence. Next you learn what it is. Then you learn how it works. And finally, you practice it, which is where experiential learning begins. This article is intended to discuss education, separate from experiential learning (but a little more on that below).

Your real estate education should not be looked at as a phase you go through, but rather as an ongoing process. This is a requirement to stay in the real estate business and to excel. There are at least three very good reasons why your real estate investing education should be continuous and ongoing.

One is that having new information can allow you to improve the process of what you”re already doing, so that you can do it better. Another is that having new information can allow you to do new things that you”re not already doing, such as implementing new profit centers in your real estate business. A third is that the world is always changing so that knowledge needs to be continually updated to be useful.

The fastest way to develop yourself educationally is to actively seek out as many sources of education as possible on a continuing basis. There are three common modes of education to be aware of that can help inform your search.

One is private education that you digest on your own, which can include books, audio recordings, video recordings, websites, and online and offline real estate investing newsletters. Another is participatory education, which involves some sort of interaction with an educator, and can include seminars or boot camps, conference calls, and webcasts. Yet one more is hands on education, which can be gotten by working with others already in the business.

This could take the form of a mentorship or an apprenticeship with another investor. You could also take advantages of all the resources of a local real estate club, either online or offline, which is dedicated to helping investors further their education in all sorts of ways.

As an ongoing business activity, your real estate education deserves management and balancing against the other ongoing activities of your business as well as all of the other demands on your time. You should work it out however is best so as to ensure that a dedicated portion of your time and resources on a regular basis go to furthering your real estate and business education.

A final word on education from experience, or experiential learning, comes last. Education can be overrated by beginning real estate investors. While it does have a large role to play in your overall progress and success, the amount you actually learn from studying educational materials is negligible compared to the amount you learn from actually performing an action or having an experience. Keep this in perspective if you feel paralyzed by an insufficient real estate investing education.

About The Author

Omar Johnson is a successful real estate investor and author of the home study course “Secrets To Making Big Money In real estate With Little Cash and No Credit” For more info visit http://www.gettingrichinrealestate.com

Motivated Sellers and Buyers The Key to Making Money in Real Estate

Wednesday, April 23rd, 2008

By Omar Johnson

Motivated buyers and sellers are the fuel that drives a quick turn real estate business. Buyers are discussed elsewhere; this article is about creating sources of motivated sellers and getting them to talk with you.

There are many reasons why a property owner might be motivated and flexible enough to work with an investor, but there are a few common types of property owners that are especially worthy of targeting with your marketing efforts. These include pre-foreclosure sellers, who are listed publicly on the notice of default list available through a courthouse or title company; abandoned property owners; landlords, lists of whom may be available from the section 8 housing authority, and owners with listings that have expired.

One method of gathering leads for motivated sellers is by farming. This involves canvassing a neighborhood street by street, becoming intimately familiar with local property values and capturing potential motivated seller leads photographically, including abandoned properties and properties for sale or for rent by the owner.

While you are in the neighborhood you are also distributing business cards to people you talk with, leaving fliers on doors, and leaving signs placed in visible but non-invasive locations. With a consistent approach this method will result in fresh leads being brought in on a regular basis from the field as well as over time a steady stream of phone calls from the cards, fliers and signs positioned in the neighborhood.

Another broad method of drawing sellers to you is marketing. You can market to any of the types of sellers already mentioned as well as to any other type of homeowner you can imagine or classify using any of several classic methods. One of these methods is direct mail, which involves sending postcards or letters to particular property owners. This can be targeted towards abandoned property owners, landlords, pre-foreclosure sellers, or any other type of homeowner.

Repetition is what gets results here. Another method is telephone marketing. If you can acquire lists of phone numbers of the types of homeowners you are interested in, you can execute a telephone marketing campaign. Yet another method of drawing sellers that is available on a reasonable budget is placing ads in print and internet publications.

These can be in general media or targeted to a specific audience. In addition there are several other forms of marketing, such as radio, television, and outdoor advertising, that can be useful for the real estate investor but which are beyond the scope of this article.

The bottom line is that if your business is not getting a steady stream of motivated sellers to buy properties from then it is suffocating. You should have a definite goal for how many sellers you want to talk to per week, and if you go a week without meeting that goal you should interpret it as a sign that something needs to be fixed.

Don”t let it continue if you want to make continual progress with your business. More sellers coming to your business will equal more and better deals and bigger profits.

About The Author

Omar Johnson is a successful real estate investor and author of the home study course “Secrets To Making Big Money In real estate With Little Cash and No Credit” For more info visit http://www.gettingrichinrealestate.com

The Importance of Developing Your Real Estate Rolodex

Wednesday, April 23rd, 2008

By Omar Johnson

Connections are the name of the game in quick turn real estate. This is a literal statement. real estate is a game where the more people you are connected to and on good terms with, the more powerful you are. To demonstrate this to yourself, think of a successful real estate investor, or any successful entrepreneur you know, and think of how many connections they have with other people that allow them to run their business so successfully. It should be obvious.

That is why your rolodex, or electronic filing system by which you keep track of and follow up with the many other professionals you should be encountering in running your business on a day to day basis, is such an integral tool for you as an investor. The more entries you have in your rolodex the more things you can make happen for more people, and thus the more favor you can incur from those around you, and the best part is it requires no money to be invested. Just be charming and meet people, and be meticulous about exchanging contact information and keeping an organized follow up system.

For the purposes of this article, what defines a connection is three key features. First, you know how to contact them, who they are, and what they do. Second, they know how to contact you, who you are, and what you do. And third, you are on speaking terms of some sort (by phone, email, or some other acceptable form of communication).

The connections that are important to have for the real estate business include the obvious ones, like sellers and buyers, real estate agents and brokers, loan officers and brokers, and the like. But what about title companies and attorneys? What about hard money lenders, private lenders, and note buyers?

What about property management services? Or how about contractors, appraisers, and inspectors? Don”t forget credit repair services, loss mitigation specialists, and notaries public. And also don”t forget the suppliers of the various hardware, software, supplies, and services that you use to run your business, or the various educational sources that you should be tuned into on a regular basis if you want to keep your business progressing.

Note that while this article promotes the use of an electronic filing system to manage these connections, the emphasis should always be on the human factor of these relationships. You should use technology for the aim of growing and deepening your relationships with all of the previously mentioned types of connections as well as others.

The technology you use should bring you closer to your connections, not come between you. This is the key to using the power of technology to develop and sustain a long lasting real estate business. The connections you develop will allow you to enjoy the benefits of repeat customers, trustworthy, long term relationships, and plenty of referral business which will in the long run decrease your marketing expenses to zero and make your real estate business virtually self sustaining.

About The Author

Omar Johnson is a successful real estate investor and author of the home study course “Secrets To Making Big Money In real estate With Little Cash and No Credit” For more info visit http://www.gettingrichinrealestate.com