Jackson TN Real Estate Resources

First, I strongly advise you to use the How To Get The Paperwork For Your Deal to get the right paperwork for your real estate investing from someone who is both local and can advise you on how to use the paperwork correctly.

I am NOT an attorney. I am not qualified to teach you contract law. I am not qualified to teach you how to fill out a contract. With that being said, I get requests all the time from real estate investors who ask me for a real estate contract they can use to buy property.

I strongly advise you again to use How To Get The Paperwork For Your Deal, but if you want a basic real estate contract to take to your dream team to get changes made that are appropriate for what you are trying to do and for your local laws and market then you can start with this very, very basic real estate contract.

I cannot stress the important of my warnings above to you: you need to learn the proper way to fill out a contract from someone that is qualified to teach that. I am not qualified to do so. You should have all your contracts reviewed by an attorney on your dream team that is representing you and your specific interests.

There are lots of real estate courses that will give you a contract to use and do not educate you, or even more frightening is they try to educate you in a few pages, on how to fill out a contract. It raises the hair on the back of my neck; it is that scary. While 9 times out of 10 you may be fine filling out a generic contract--even filling it out wrong. You'll only know how valuable this is when you run into a problem with your transaction and that could wipe you out completely financially if you did not get advice up front.

Until my next post,

James

With a lot of folks facing challenging local real estate markets there has been a lot of talk lately about wholesaling outside of your local market or virtual wholesaling.

Yes, wholesaling outside your local market can be done and a lot of the tools I teach can very easily be adapted to this type of investing, but I have one warning for you before you start and before I continue to share some information about it: if you are not willing to do the work that is required to build a buyers list, find deals and talk to buyers and sellers about properties in your local market, then doing it across the country still won't work for you.

With that being said... if you are willing to build a buyers list, talk to motivated sellers to find deals and put them under contract then talk to your buyers list as they inquire about the deal, then yes, this is a viable business model.

In fact, if you sort of cross your eyes funny, it is the exact business model I run here on these sites except I am doing it with a real estate license and skipping a few steps as I'll show you below.

For real estate investors that do not have a real estate license here is a basic overview of how the process works:

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To start 2009 off right, this week we are giving away Secret No Money Down Tips and Tricks as the free download when you start and finish a game on the Learn To Be Rich™ game this week.

Just register, login, start a new player and play a complete game and at the final game summary page you will see a link to download the course.

Each week, we change the course that you can download for playing a new game and finishing it that week.

Have a great 2009 investing and playing the game.

Until my next post,

James

I want to share with you some information about a property in Jackson located at 621 Whitehall St. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.

This 3/1.00 684 square foot property has an asking price of $9,900, but let's take a moment to do some calculations to see what our actual cost per bedroom would be based on various offer prices (both above asking price and below asking price).

As you can see from the table above, if you know that rents in Jackson can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.

And if you are looking for more information on how to find real estate deals in Jackson, then you may also be interested in checking out the audio CD real estate course Finding Motivated Sellers to Find the Best Real Estate Deals that Jassen recorded. It teaches you how to find motivated sellers in Jackson so that you can find some amazing deals.

Until my next post,

James

With one or two properties tracking insurance is pretty straight forward and easy to remember, but adding a few more investment properties and tracking insurance becomes a much more challenging issue. In my office, we use a Property Insurance Report to keep track of insurance on all our properties in a nice summarized page.

On our Property Insurance Report, we track several things. Beyond the basics like property address and the insurance company name, we also track

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A less thought of but very powerful advantage to buying houses "subject to" the existing financing is the ability to buy houses using your corporation or LLC.

Since you are not qualifying for a new loan your corporation or LLC can be the buyer on properties that you are purchasing "subject to" the existing financing.

If you are concerned about Asset Protection and/or privacy of ownership, using an entity can prove to be very helpful.

Often real estate investors will use a trust--in addition to their corporation or LLC--when buying a property "subject to" the existing financing. This is NOT because a trust will not trigger any due on sale clauses, but because it can add an additional layer of asset protection by keeping your name off public record.

See your attorney for more information about how to structure an asset protection plan for you unique situation.

Until my next post,

James

We just had a researcher submit some very basic information about a house for sale in Jackson to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for Jackson TN, Tennessee Real Estate Resources is located at 194 Dupree, Jackson, TN 38305.

I am going to do do some calculations on this Jackson property. It is a 2 bedroom, 1.00 bathroom property located at 194 Dupree that has an asking price of $13,900.

As you can see from the table above, if you know what a typical Jackson property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.

Is your marketing toolbox empty or have you run out of fresh ideas for finding new deals? At Jackson TN, Tennessee Real Estate Resources, we believe that you can never have enough marketing tools at your disposable. For a cost effective method of finding deals, try Buying House with Bandit Signs.

Until next time,

James

You will need to find a great local insurance agent that understands what you are doing when you are buying houses "subject to" to the existing financing to make sure that property is properly insured.

An Insurance Agent is a key member of your Real Estate Investing Dream Team whether you are buying traditionally or buying "subject to", but since the loan remains in the seller's name, it is important to make sure that your insurance agent writes the correct policy to make sure that you are insured properly.

Remember that insurance premiums can vary widely from company to company for very similar coverage amounts. Be sure to get competitive quotes and to get the quotes BEFORE you buy the property. It is best to know your insurance expenses before you commit to buy a property.

Until my next post,

James