Part Time REI » Team Building http://part-timerei.com Real Estate Investing while Working Full-Time Fri, 03 Oct 2014 17:44:45 +0000 en-US hourly 1 https://wordpress.org/?v=4.0.38 Part-Time REI is a real estate investment education company. Our Lunch-Time Profits System is designed to teach you how to fix and flip homes in your spare time. We specialize in helping investors learn how to control their own financial future. Most importantly, we show you how to leverage other people's time and expertise to help you accomplish your goals. Finally, we provide systems so that you can repeat the process again and again. Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers no Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers support@part-timerei.com support@part-timerei.com (Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers) Part-Time REI podcast with host Bryan Snider and Erik Hitzelberger talk about investing in real estate and flipping houses in your spare time. flipping houses, investing in real estate, part-time, second income, retire early, flipping homes, flipper, REI, rehabbing Part Time REI » Team Building http://part-timerei.com/wp-content/uploads/powerpress/Logo.jpg http://part-timerei.com/blog/category/team-building/ Weekly Podcast 02: Dispelling a Major REI Myth http://part-timerei.com/blog/2014/06/10/podcast-2/ http://part-timerei.com/blog/2014/06/10/podcast-2/#comments Tue, 10 Jun 2014 19:33:20 +0000 http://part-timerei.com/?p=2774 Today  in our second podcast we are going to tackle another of the biggest misconceptions in real estate investing.  Specifically, we want to dispel the myth that you have to have a lot of real estate and construction knowledge in order to be successful flipping houses.
Dispelling a Major REI Myth

 

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]]> http://part-timerei.com/blog/2014/06/10/podcast-2/feed/ 0 flipping houses on your lunch hour,investing in real estate,podcast Today  in our second podcast we are going to tackle another of the biggest misconceptions in real estate investing.  Specifically, we want to dispel the myth that you have to have a lot of real estate and construction knowledge in order to be successfu... Today  in our second podcast we are going to tackle another of the biggest misconceptions in real estate investing.  Specifically, we want to dispel the myth that you have to have a lot of real estate and construction knowledge in order to be successful flipping houses. Dispelling a Major REI Myth     To learn more about Part-Time REI visit us at http://part-timerei.com/ Or connect with us   Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers no 3 Questions Real Estate Investors Must Ask Their Agents http://part-timerei.com/blog/2012/11/26/investor-agent-questions/ http://part-timerei.com/blog/2012/11/26/investor-agent-questions/#comments Mon, 26 Nov 2012 04:35:06 +0000 http://part-timerei.com/?p=15 Team BuildingAs a part-time real estate investor, your REALTOR is one of the most critical members of your team.  She can help you find deals quickly, make recommendations about the level of finish required for the area, and market the home to sell quickly.  However, bad advice in one or more of these categories and your profit quickly evaporates.  By asking the following questions, you can ensure this important role is filled by someone who will help you achieve your fix and flip goals.

What type of investing do you do?

If the answer is, “I don’t invest,” you need to find a new agent.  To be successful, you need someone who understands the real estate investor mindset, someone who can look past the current condition of a property and see its potential and someone who has a rough idea of what it takes to get from that current condition to retail-ready and then to closing.  The average agent thinks a 5-10% discount is good and has no idea what a rehab costs.  You must avoid these agents at all costs if you want to be successful.

How many other investors do you work with?

The best answer to this question depends on the size of the market and what each investor is trying to accomplish.  Ideally, you will be the exclusive client for the area/property type you are looking for.  However, this is not a requirement if you believe the agent can find you the deals you are looking for.

You also want to be comfortable with which deals the agent selects for himself.  Since you are working with an active investor, you are also working with a competitor.  Unless you live somewhere like Hoot Owl, Georgia (pop4), there are plenty of deals to go around.  Do clients get the first opportunity?  Does he take 1 per month?  Whatever the method, make sure you are comfortable working under those guidelines.

Can you explain my real estate investing goals to me?

Obviously, you know the answer to this question.  The important part is that your agent be able to reiterate your goals to you.  If he doesn’t understand what you are trying to accomplish, the relationship is going to work poorly.  The goals should include how many properties you want to buy in a given time frame, purchase and sale price ranges, and a degree of difficulty for the rehab.

Your agent can be someone who helps you build your fortune or someone who wipes out your profit before you even start.  By screening agents with these 3 questions, you can try to eliminate people from the latter group.

 

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