Another Brett investment story

This is actually not a story, but some tips I have on appraisals. How do you make sure an appraisal really reflects the actual value of the property?
I’ve done over 400 homes in my life and never missed an appraisal in Phoenix. Now having been involved in several transactions in the Midwest, I very comfortable about how the process works there also. Knowing what your property is worth is a very important part of being a successful investor.
FYI….Appraisals are really just the opinion of that particular appraiser. And appraisals are not recorded anywhere unless it is accepted. What I am saying is that you do not have to accept one appraiser’s opinion. Don’t be afraid to ask the appraiser where he got his numbers. Point out anything you think he might have missed.
I had one appraisal come in $5,000 below where I though it should be. I immediately told him that I did not except his appraisal and would be getting another opinion. The second appraisal was more accurate.
When evaluating a property, the best place to start is with current sales in the immediate area. I like to at least 3 like properties. Then, the home’s features should be considered. Keep in mind that different areas have different criteria. In Ohio for example, 1 or 2 baths does not make a difference in value. In AZ this could make a $30,000 difference.
Of course recent updating or rehabbing is extremely important. One thing I have done in the past is to provide the appraiser before and after photos. This proves that the improvements were done after the last appraisal and should be factored into the value.
There are many other factors that must be considered. I will be speaking on this subject at an upcoming meeting. Watch for the date.

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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment
http://www.wealthbuildingequity.com/

Our Plans For 2009

Advanced Cash Flow VIP Academy is a growing company, thanks to our clients. And we want to see 100 more investors this year. Our referral program is designed to help members earn thousands of extra dollars just by telling friends and family about us. In turn this will assist us in reaching our 100 investor goal.
Kevin Sparks, founder of Worldwide Success Network, has also joined us in our mission to expand. His vast talents will help us help you to spread the word about our system. Kevin will hold 2 meetings per month for a limited time. Upcoming dates are Feb 4th and the 18th. Please bring anyone who might be interested in our membership to these meetings. Kevin will be giving a detailed presentation about who we are, what we do and how this works. So I encourage you to take full advantage of this opportunity while it is here.
I also plan to open 1 more awesome investment city this year. The time is now to invest in real estate. I continue watching the market and taking advantage of all the opportunities that this type of market brings.
As always we are looking for ways to improve how we do business. It is extremely important to me to continue to make your investing experience better and better.
As I mentioned in an earlier article, I am working toward a community of investors that will have a forum to share ideas. This community will allow new opportunities for making money in real estate. Lease options, Flips, Wholesaling are just a few added opportunities in store for you. One unique aspect of this concept is that the community will be able to communicate thru your back office on the. Meaning all members will have open communication will all members of the community and will be allowed to sale real estate within the community in the near future.

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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment

Thinking Outside The Financing Box

When it comes to financing I have never seen more changes than I’ve seen in the last year.
First the FHA allowed 10 mortgages, then it was 6, now it is 4. Wow, it is hard to play the game when the rules keep changing. That is why I wanted to write this article. Thinking outside the box is not only a good idea, it may be the only option.
I personally have 28 investment properties. Some I own myself, others I own in partnership. I too have experienced the new loan restrictions, but instead of letting great investment deals pass by, I found others who could get the financing and partnered up with them. This is how it works: We split the cost of the home and rehab and pay cash for that. Then my partner gets the loan. That helps me in two ways: 1. With the loan, we get back all of our initial cash investment, so we have no money in the deal. 2. ½ of something is better than ½ of nothing. My partner also gets the tax benefit of owning an investment home.
Another way to make financing happen is with business credit. I am currently in the process of building business credit myself. The first thing to do is to create an LLC. Next, open a checking account with that LLC. (Make sure to bring your articles of incorporation with you.) Your business banker will assist you with an Employer Identification Number (EIN). Once your checking account is open, register your business (or LLC) with Dun and Bradstreet. Then, you will need at least 4-6 vendors to report to your D & B number. Also, remember to run all of your rental expenses and revenue through your LLC. This will establish a credit score for your company. Once you have done that, you can then go out and look for commercial credit lines.
Lastly, keep in mind that the financial market is ever changing. I am confident in time, that things will swing back in favor of investors. After all, we are what keeps the economy rolling.
Meanwhile, we are constantly looking for new ways to finance and need your input always on this matter.

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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment
http://www.rooftopprofitmax.com/