Buffalo 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

We just had a researcher submit some very basic information about a house for sale in Buffalo 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 Buffalo, New York Real Estate Resources is located at 224 Newfield St, Buffalo, NY 14207.

This 3/1.00 1,188 square foot property has an asking price of $21,000, but let's take a moment to do some calculations to see what our actual price per square foot 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 what a typical Buffalo 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.

Does 224 Newfield St look like a good deal to you? If not, have you used the Offer Generator to see what it would take to make it work? If you could get this property at the right price, how would you go about marketing it?

Sincerely,

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

We just had a researcher submit some very basic information about a house for sale in Williamsville 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 Buffalo, New York Real Estate Resources is located at 107 Evans, Williamsville, NY 14221.

I am going to do do some calculations on this Williamsville property. It is a 3 bedroom, 1.00 bathroom property located at 107 Evans that has an asking price of $1,350.

As you can see from the table above, if you know what a typical Williamsville 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.

If you had the chance to get out some really great and effective marketing for FREE, wouldn't you do it? Find out one of the techniques we employ to use FREE MARKETING here: Buying Houses with Flyers. There are plenty of deals in the Buffalo area, but, who's going to find them - you - or that other guy?

Until next time,

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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We have analyzed this deal to see how this particular single family home in Buffalo would be as a rental property. We try to research and analyze better than average deals for you to help save you time and money. You can read about what it is like researching properties for deals on your own in our article: Find Real Estate Deals is a Numbers Game.

Where is this property?

It is located in Buffalo, NY. The property address is kept private to preserve the deals for our members. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about Deal #4042 and they can give you the full details about this property and help you in purchasing it. This particular property was submitted to the Buffalo Real Estate Resources Website featuring real estate investor articles and local deals.

How did we find this property?

We found this property from one of our real estate investor friendly agents/brokers or one of the real estate investor wholesalers we know in the Buffalo area.

Learn to find motivated sellers using marketing in Back to Back to Back Motivated Seller Appointments. This CD is included as part of the 68 CD Ultimate Real Estate Investor Package that you get when you purchase any house we promote on the website through our recommended real estate agent or broker. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about real estate Deal #4042 and they can give you the full details about this property and help you in purchasing it.

The Story

Before we get into our full analysis, here is some of the interesting story for this particular deal:

From the wholesaler: 2 properties for 1 price. (Home & Vacant lot) Good Area! (Riverside/Kenmore area of Buffalo). Single family and Vacant lot. Needs about $7-9K in repairs. Estimated after repair value is $50 - $56K (including the vacant lot) We are wholesaling both properties for $21K. We can also arrange to hold the mortgage for a buyer at a higher price. Open to all offers!

Property Details

• Bedrooms: 3
• Baths: 1.00
• Square Footage: 1,304 (see square footage estimates for info)
• All information is deemed reliable, but is pulled from tax records, real estate agent, zillow or the seller.

Income

• Gross Rent: $650/month (see Rent Estimates for more info)
• 4.00% Vacancy Adjustment: $26/month (see Vacancy Estimates for more info)
• Net Rent: $624/month
• NOTE: These numbers are for traditional rental income and NOT a rent-to-own. Rent-to-own analysis follows below.

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Here's another Buffalo property that was submitted by a user that we will use as a teaching tool for our Buffalo, New York Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 111 Esser Ave, Buffalo, NY 14207.

Since this 4 bedroom, 1.00 bathroom property has an asking price of $12,000, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.

As you can see from the table above, if you know that rents in Buffalo 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.

By the way, have you considered marketing to absentee owners who own property in Buffalo but don't live in Buffalo? This can be a great way to find good deals from motivated sellers. For some tips on how to get started, check out the Absentee Owner Postcards page on the Real Estate Investor Cookbook.

Sincerely,

James