Posts by Julie Broad
List Price Doesn’t Matter
One of the mistakes many new real estate investors make is thinking they got a good deal just because they managed to purchase a property for less than list price. Don’t confuse list price with property value. In many cases, list price is just the wish price of the seller or some lofty value a…
Read MoreThree Sentences That Saved Our Business
Have you ever been writing an e-mail or a report — pouring your heart and soul into each and every word — when, POOF, it vanishes? Maybe it was a computer glitch or a wrong keystroke. Either way, your work is gone. And you can’t retrieve it. Well, imagine if you’d been working on that…
Read MoreThe Seeds of a Real Estate Harvest
I grew up in a small farming town in Alberta, Canada. For 17 years, I was surrounded by farmers – and I never met a single one who’d even consider eating his seeds instead of planting them. They just wouldn’t do it. Neither would they harvest a crop early. Yet that’s what many real estate…
Read MoreA Little Negotiating Trick for Real Estate Deals
When negotiating to buy a property, I increase my chances of getting the exact deal I want by giving the seller options. One way I do it is by negotiating the financing terms I want at the same time as I negotiate price. Let’s say I wanted to buy a certain property for $200,000. If…
Read MoreThe Easiest Little Retirement Plan
My brother is a talented carpenter. Before becoming a carpenter, he was an amazing chef. He is also extremely good at repairing and rebuilding cars. In fact, he’s good at anything that requires patience and attention to detail. Except, that is, when it comes to his finances.
Read MoreThe Fatal Flaw in “Winning” Deals
Years ago, I spent several months backpacking around Guatemala. As my Spanish improved, I enjoyed going to markets to bargain for Mayan souvenirs or fresh fruit. My goal was to pay the same price as a local. I was having fun playing this little game until my new Australian friend witnessed me in action, bargaining for a beautiful hammock. As I was walking away because the vendor wouldn’t lower her price a little more, my friend said, “You realize that you are getting all worked up over what is about 10 cents. At home, you would pay 50 times that much for a hammock like that, so this is a great deal.”
Read MoreWhy You Must Master Direct Marketing for Real Estate Investing Success
When you think about real estate investing, my guess is that you don’t immediately think “direct marketing” as well. But direct-marketing skills are essential to almost every aspect of real estate investing… from finding motivated sellers… to buying a property… to finding your ideal buyer… and more. In fact, mastering direct marketing can help make…
Read MoreBefore You Buy That Rental Property…
I almost missed out on making $100,000! My husband took me to see a rental property he wanted to buy – and though we could buy it without spending a penny of our own money, I didn’t really want it.
Read MoreA Formula for Dealing With Tenant Upgrade Requests
My husband and I recently turned down a tenant’s request for blinds in the living room of one unit of a triplex. (They were unhappy with the “dirty curtains” on the window.) At the same time, we agreed to put a new toilet in another unit.
Read MoreThe Danger of Pursuing Passive Income
Real estate investing has given my husband and me a great deal of freedom to do what we want with our lives. Whether we decide to putter around the yard, go mountain biking, or focus on our Internet business, we are making money from our properties. Many would say we’re earning passive income, but we no longer do.
Read MoreHow to Evaluate a Rental Property in 60 Seconds
When you start looking for a rental property to buy, you might find yourself overwhelmed by all of the places that are on the market. Your realtor may be sending you a bunch of listings, and you may have a list of properties you’ve found on websites like Realtor.com. How do you know which ones are worth looking at further?
Read MoreIt’s Not Just About Price When Creating Great Real Estate Deals
Real estate can be an instant wealth creator… as long as you learn a critical lesson about deal making. When my husband and I purchased a duplex, we instantly added $20,000 to our net worth and $500/month positive cash flow to our pockets. And we did it simply by getting to the heart of the seller’s problem and offering a perfect solution.
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