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Articles from Bryan Benson | Selfgrowth.com
- A Seller's Market: Do You Know Where To Shop? - by Submitted on Apr 17, 2008 from Bryan BensonWhere is the best place to find people who need or want to sell their homes? Now this is a good question. This is also a loaded question. Yes, you may be talking about the best place to find people who want or need to sell their homes, but we may also be talking about the best technique in which ...
Views: 753 - Agreement For Deed And Other Questions - Part I - by Submitted on Apr 25, 2008 from Bryan BensonPart I Can a second mortgage holder force a foreclosure? This is a question you might be asking yourself if you are in the situation! The answer to that is: Certainly. Now of course it certainly cannot hurt the first mortgagee’s position but they can certainly force a foreclosure. In ...
Views: 1044 - Agreement For Deed And Other Questions - Part II - by Submitted on Apr 25, 2008 from Bryan BensonPart II In part one we left off deciding whether or not we would drop the agreement for deed. I would highly encourage you not to drop back to the agreement for deed, land contract or rap mortgage (they call them by a lot of different names). I would tell you that 99% of business, I sell on a ...
Views: 931 - Agreement for Deed: What You Need To Know - by Submitted on Apr 17, 2008 from Bryan BensonHave you heard of agreement for deed but you’re not really sure if this would apply to you? Not really sure of how it would work for you? Let’s say you have a mobile home that you took subject to for $21,500.00 and you got it priced at $39,900.00. The property also sits on about ...
Views: 799 - An Extra Lot - by Submitted on Dec 27, 2007 from Bryan BensonWith all the things that may come into a deal, sometimes what might be included in the deal is an extra lot, a smaller piece of property with dimensions that are so abstract and a shape to the property that may make it difficult to sell or to build on. Problems that you may have with lots like ...
Views: 707 - Appraisals Part I - by Submitted on Apr 30, 2008 from Bryan BensonPart I Time and time again I have told people to get their own appraisals. This is what you need to be thinking. This is how your mindset needs to be. If I go out and ask somebody to get an appraisal what credibility does it have unless I go through somebody that a bank would also vouch for? ...
Views: 809 - Appraisals Part II - by Submitted on Apr 30, 2008 from Bryan BensonPart II In part one we talked about the importance of getting appraisals. We talked about why this is important and we even looked at a situation involving the appraisal of a piece of property. You have rehabbed the property and are making the last minute decisions on aesthetics. You have ...
Views: 824 - Approaching The IRS...Should You Or Shouldn't You? - by Submitted on Mar 27, 2008 from Bryan BensonMany people think that approaching the IRS to ask for a release of Lien is a negative or scary experience. Let’s really think about what we’re doing here. If you have obtained a property with a hefty tax lien, do you think you should really approach the IRS directly? Let’s take ...
Views: 618 - Capital Gains - by Submitted on Dec 13, 2007 from Bryan BensonIn finance, a capital gain is profit that results from the sale or exchange of a capital asset over its purchase price. If the price of the capital asset has declined instead of appreciated, this is called a capital loss. Capital gains occur in both real assets, such as property, as well as ...
Views: 686 - Challenges Of Knowing Your True Value - by Submitted on Mar 26, 2008 from Bryan BensonChallenges you say? This business is filled with challenges around every corner. Here are some things you really need to look out for and think about before you start any kind of action. And remember-most importantly- before you start any action-you need a plan of action. When you are looking ...
Views: 658 - Commercial Real Estate: What is my role? - by Submitted on Apr 16, 2008 from Bryan BensonLet’s take a moment to talk about commercial real estate and your specific role in a deal. Sometimes you might need a little more clarity on a situation. Say you are really unsure about the finder’s fee and what constitutes relinquishing the deal? Still not seem clear to you? The ...
Views: 796 - Completing A Deal On Your IRA Part 2 - by Submitted on Apr 15, 2008 from Bryan BensonPart 2: What it means to you Say you have just completed a deal on your IRA. What does this really mean? Let’s talk about the hubbub this can create with your advisors when you do something like this. It basically starts with someone who (for whatever reason or multitude of reasons) just ...
Views: 757 - Completing A Deal On Your IRA Part 3 - by Submitted on Apr 15, 2008 from Bryan BensonPart 3: What it means to you In part one we talked about what it really means to complete a deal on your IRA. You have just completed the deal. And not you have placed a large sum ($40,000) into your IRA. It was easy-almost too easy right? What do you think about next? You do have to keep in ...
Views: 801 - Completing a Deal on your IRA, Part One - by Submitted on Apr 14, 2008 from Bryan BensonPart One: What is Means Say you have a deal that you want to sign right away (like tomorrow!) and you would like to do the deal on your IRA. Are you unsure of how to proceed? Do you do a trust and then your IRA will need an option from the trust? Have you found yourself in a situation you are ...
Views: 701 - Confused About The Steps You Need To Take? - by Submitted on Mar 08, 2008 from Bryan BensonSay you just got your first deed subject to deal, and you are a little bit confused about the steps you need to take. You already, applied for title search. So that's happening, and things are on their way. The seller's sign all of the documents. One of the things that you didn't understand ...
Views: 788 - Criteria For Equities - Part II - by Submitted on Apr 28, 2008 from Bryan BensonPart II In part one we were working on a deal. We were going over the four important criteria. The first criterion was to have a good low monthly payment. The second was making sure the property you are purchasing is in excellent condition. Third, you will kind of want people to be moving into ...
Views: 775 - Criteria With Small Equities - Part I - by Submitted on Apr 25, 2008 from Bryan BensonPart I Say you are in a small town in the south. In fact, let’s say you are in Arkansas. And in Arkansas they have a lot of pre-foreclosures with small equities, like $3,000.00-$4,000.00 equity. Is there anything there worth fishing? It depends. This answer may seem vague, but you need ...
Views: 732 - Deadly Mistakes You Can Avoid - Part 2 - by Submitted on Nov 27, 2007 from Bryan Benson2. Getting into the rental business before your cash-flow needs are met. Boy, did I ever get tangled up in this one. When I first got started with real estate, I decided to buy all the rental property I could. I figured with a lot of tenants in a lot of houses, the cash would just fall into my ...
Views: 701 - Deadly Mistakes You Can Avoid - Part 3 - by Submitted on Nov 27, 2007 from Bryan Benson4. Listening to negative thinkers and "Dead Heads." Nothing kills the entrepreneurial spirit like negativity. With all the challenges you face in business, you need to keep a positive, upbeat, enthusiastic attitude about what you're doing. It's the only way you'll be able to perform at your ...
Views: 660 - Deadly Mistakes You Can Avoid - Part 4 - by Submitted on Nov 30, 2007 from Bryan Benson5. Lack of action. There's an old saying that goes "Even a turtle won't get anywhere until he sticks his neck out." Another old saying (that I made up) is "You're never going to get rich sitting on your behind and waiting for it to come to you." You have to make it happen. You have to get things ...
Views: 694 - Deadly Mistakes You Can Avoid - Part 5 - by Submitted on Nov 30, 2007 from Bryan Benson7. Chasing dead-end leads. Chasing dead end leads is very similar to dealing with unmotivated sellers and can be a tremendous waste of time and energy. Unfortunately, many people never really learn how to avoid it. Well I can solve this problem very simply. Pre-qualify every prospect that comes ...
Views: 610 - Deadly Mistakes You Can Avoid-Part 1 - by Submitted on Nov 27, 2007 from Bryan BensonOver the last 23 years, I've known many investors and entrepreneurs. I've seen every possible scenario, from overnight success to plodding, sit-on-your-butt-and-do-nothing failure. I've known people who would get off to a great start, and then fade away, and some who would piddle around and ...
Views: 705 - Dealing With Insurance - by Submitted on Mar 10, 2008 from Bryan BensonLet’s take a look at someone dealing with insurance on a property…or lack of it. Say you received the deed recently on a property worth about $675,000. You thought you had a buyer for it so you went ahead and recorded the deed. But now you have a problem. You don’t have insurance on it. You ...
Views: 677 - Dealing With The Seller: Is It Your Choice? - by Submitted on Mar 26, 2008 from Bryan BensonIt’s the same old story. I have heard this story dozens and dozens of times. You have found the perfect house, located on a perfect piece of property in the perfect area. One problem…you have not found the perfect seller. In fact, you cannot even find the owner or seller. Having a ...
Views: 597 - Deed to Property: What You Need To Know - by Submitted on Jan 17, 2008 from Bryan BensonTo clearly understand the relationship between a buyer and a seller it is necessary to understand what is involved in the purchase of a property. A deed to property is an essential document by which the land is passed from the seller of the property to the buyer. This legal document is necessary ...
Views: 696 - Developing Extra Sensory Perception - by Submitted on Mar 11, 2008 from Bryan BensonMost experts agree that most people have extra sensory perception or are able to develop it. Many of us have already experienced ESP. For example: Have you ever gotten the feeling the phone was about to ring…and it does? You are singing a song to yourself when you turn on the radio and the song ...
Views: 1121 - Do I Buy Property That Includes Inventory? - by Submitted on Apr 01, 2008 from Bryan BensonBefore you can even begin to answer this question you have to really ask what the property itself is worth. If you are sure (dead sure) about the value of the inventory, and you are also sure of the value of the property, then you do have a couple of options. I can try to explain it better for ...
Views: 683 - Do You Have The Courage To Be Rich - Part 2 - by Submitted on Dec 03, 2007 from Bryan BensonWhy Did It Have To Take So Damn Long? You’re so lucky! What took me 20 years to figure out has been put in an aerosol can so you can simply spray on success almost over night. With the easy to follow and simple plan I’ve created over the years, you get to bypass those 20 years, and ...
Views: 702 - Do You Have The Courage To Be Rich - Part 3 - by Submitted on Dec 03, 2007 from Bryan BensonIf you’re reading this and you haven’t done your first deal yet, you may be trying to justify why it doesn’t apply to you. Sorry, that dog won’t hunt. It does apply to you if you want to get rich. Every successful real estate millionaire began with their first deal. You ...
Views: 935 - Do You Have The Courage To Be Rich? - by Submitted on Nov 30, 2007 from Bryan BensonI’m constantly amazed at how the majority of the human race in a great country like America would rather spend their entire life being mediocre, swapping hours for dollars, taking little risk, playing not to lose…then going for the gusto and getting everything possible out of the ...
Views: 618 - Don't Quit Your Day Job - by Submitted on Dec 13, 2007 from Bryan BensonSo many times, we run into rookies who are fed up with their regular 40 hr week job. After hearing all the stories of people getting rich with real estate, they are ready to throw in the towel on their regular job, tell their boss what they think of him, and jump full time into the business of ...
Views: 720 - Existing Insurance Policies And New Purchases - by Submitted on Dec 07, 2007 from Bryan BensonTo try to work around insurance issues involved with purchasing property, some choose the route of applying for an LLC. This is done because some don’t feel comfortable getting an insurance policy in their personal name and then having that sent to the mortgage company. Applying for an ...
Views: 648 - Facing The Opposition - Part I - by Submitted on Apr 28, 2008 from Bryan BensonPart I Say you have a 40-acre mobile home park, two blocks off the Gulf of Mexico in central Florida. And you have tenants. You have many, many tenants. What you really want is the land the mobiles homes sits on. Do you have any theories of what it takes to close down a mobile home park and ...
Views: 1149 - Facing The Opposition - Part II - by Submitted on Apr 28, 2008 from Bryan BensonPart II In part I we talked about our property that was filled with mobile homes. We are ready to turn this into a residential property. Where do we go from here? A good engineer would be able to guide you to the highest and best use, and cost you very little money up front. Go to them and ...
Views: 755 - Filing A Quiet Title Suit - by Submitted on Jan 10, 2008 from Bryan BensonStay in this business long enough and you will one day be able to say that there isn’t much that you haven’t seen. In fact, you may find that the time may come when you see much more than you wanted to see. On occasion, you may come across a property where the owner has completely ...
Views: 1895 - Financing Your Real Estate Investment on Creative Terms - by Submitted on Dec 05, 2007 from Bryan BensonWhen investing in real estate, you’ll find there are many who are willing to put money into a property in hopes of earning revenue but few who are willing to get the proper training that will help them achieve success in real estate investment. Those that do take the time to learn the ...
Views: 688 - Finding The Right Pieces To Solve The Puzzle - by Submitted on Apr 01, 2008 from Bryan BensonSay you have a lease-purchase option on a property and a tenant-buyer in it. The tenant-buyer is wanting to purchase this in about three months; and now all of sudden you are having difficulties finding a closing attorney who will close this loan for you without the initial security being in ...
Views: 546 - Foreclosures And Short Sales - by Submitted on Dec 14, 2007 from Bryan BensonAttempting to do a short sale may be a challenge when there a foreclosures on homes with multiple mortgages. For example, there may be a situation where the foreclosing lender with the highest amount due is in the second place, and the second lien holder with a substantially lower amount is in ...
Views: 842 - General Questions - by Submitted on Mar 31, 2008 from Bryan BensonIs there a law that says you cannot give a car away if somebody buys a house? Think people-this is not a lottery. There is not a law that prohibits this practice. Do you need a HUD statement when you prepare the deed? It does not hurt to do this. If your closing agent is recommending it, then ...
Views: 591 - Get Those Houses Sold! Part I - by Submitted on Apr 18, 2008 from Bryan BensonPart I Now I’d like to talk about a situation that you (hopefully) will not find yourself in. It may be important to talk about it. Say you have a few homes that have been for sale for quite some time. For the sake of argument, let’s say you have six houses. You have a market that ...
Views: 794 - Get Those Houses Sold! Part II - by Submitted on Apr 18, 2008 from Bryan BensonPart II In part I, we talked about our situation. It boiled down to this-excess home, no buyers. And to top it off the market is flooded with excess homes. We left off in part one talking about what you need to do. The biggest thing you might find yourself needing is cash flow. Now you may get ...
Views: 797 - Get Those Houses Sold! Part III - by Submitted on Apr 18, 2008 from Bryan BensonPart III In part I, we talked about our situation. It boiled down to having excess homes and not enough buyers. Part one focused on talking about what you needed to do. Part II talked about your strategies and identifying the problem of your processes. We talked about gimmicks and strategies ...
Views: 788 - Get Those Houses Sold! Part IV - by Submitted on Apr 21, 2008 from Bryan BensonPart IV In part I, we talked about our situation. It boiled down to this-excess home, no buyers. And to top it off the market is flooded with excess homes. We left off in part one talking about what you needed to do. Part II talked about your strategies and identifying the problem of your ...
Views: 728 - Get Those Houses Sold! Part V - by Submitted on Apr 21, 2008 from Bryan BensonPart V In part I, we talked about our situation. It boiled down to this-excess home, no buyers. And to top it off the market is flooded with excess homes. We left off in part one talking about what you needed to do. Part II talked about your strategies and identifying the problem of your ...
Views: 789 - Get Those Houses Sold! Part VI - by Submitted on Apr 21, 2008 from Bryan BensonPart VI In part I, we talked about our situation. Excess homes-not enough buyers. We left off in part one talking about what you needed to do. Part II gave us strategies and identified the problem of your processes. We talked about the potential gimmicks and strategies for selling your homes. ...
Views: 1133 - Get Your Situation Under Control - by Submitted on Mar 31, 2008 from Bryan BensonHas this ever happened to you? You have found the perfect house you want to purchase. And you are even able to find the owners. They had abandoned the home, but after talking with them and making them feel comfortable you were finally able to get them to sign an Authorization to Release ...
Views: 644 - Getting Down To Fundamentals - by Submitted on Mar 29, 2008 from Bryan BensonIn general this can be a tough market-but it doesn’t have to be! Remember, it IS what YOU make it! With that being said, let’s focus on a couple of fundamental principles. These fundamental principals are basically a recap of things you may have already seen (or heard) but this ...
Views: 701 - Getting Started: What You Need To Know - by Submitted on Apr 02, 2008 from Bryan BensonAre you feeling concerned about starting your first deal? Not sure how to go about it? There are a couple of things/questions you need to ask yourself when you are getting started. You may be finding yourself in the same boat as many people who have started in this business. Are you limited ...
Views: 572 - Getting Your First Deal: Which Direction Should You Take? Part I - by Submitted on Apr 04, 2008 from Bryan BensonAre you working on your first deal? Have you come across an opportunity and you just aren’t quite sure which direction to go in? This can be a confusing and frustrating situation if you have a property with a variety of potentials. It’s enough to make you crazy! This isn’t ...
Views: 618 - Getting Your First Deal: Which Direction Should You Take? Part II Pricing Your Unit/Property - by Submitted on Apr 04, 2008 from Bryan BensonHow would you price your units? Once you have gotten an estimate on your per unit value what is your next step? How far are you in the process? What are your next steps? In part one we discussed the per units value (this was determined from broker in the area). But let’s say that you ...
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