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Real estate is not a sprint, it is a marathon. Many people get into the real estate industry because they think that they will be able to make a lot of money in a very short amount of time. This is not the reality in most cases.

In order to be a successful Realtor or investor, you must think long term.

1. Set Your Business Up Right

Understand your philosophy and your business model. You do not want to reinvent the wheel. Model successful investors and Realtors that you admire. Interview them and find out how and why they are successful. How did they start? Would they do anything different if they could start over? Did they encounter any roadblocks and how did they overcome them?

With so many reasons why closings fall apart, the biggest seems to be access to the loan credit needed to secure the actual mortgage. Arguably a condition of the bursting of the real estate bubble in 2008 when rocketing home prices suddenly dropped and left many thousands of people underwater or owing more on their mortgage than the home was worth. This condition is still pervasive in banks today that are reluctant to provide mortgage loans even to those with good credit.

If you are interested in finishing your basement because you want to put it on the real estate market in Chicago, read this first! Many people do not realize that having a finished basement can really increase the value of a home in Chicago. You get the best return on investment when you finish a […]

The prospect of foreclosure can be difficult enough for individuals with a single property, but for owners of multiple properties, this process can be much more difficult. Even if you are considering just letting one property go, foreclosure is never an easy process and it is always tricky. Many people are unaware of the liability […]

Many people rely on their 401K for retirement but yet know so very little about it. Most people aren’t even sure what their retirement money is invested in besides Option A, Option B, or Option C. 71% of workers polled for AARP believed that they didn’t pay any fees for their plans! All the fees can be confusing, and the recent disclosure laws that came out late last year haven’t made things much clearer. Although it takes some work, it’s wise to know where that money is going so you can maximize the amount that ends up actually going towards retirement.

Want to flip a house? There’s a lot of misconceptions when it comes to rehabbing properties – it isn’t like reality TV. So what are some things to be aware of when starting out in the real estate market? First off, if you’re serious about getting into the rehab business, be aware that it is […]

When you’re doing a remodel, you want it done right. And a lot of that depends on getting a good contractor. But in a field where cheap pay is frequently equal to cheap work, how do you know who to hire? First off, make sure they’re licensed. Be aware that licensed is different than registered. […]

Sometimes mortgages become too much for the borrower to handle. Circumstances change, and they’re unable to make their payments anymore. What should they do? Here are some loan modification tips to help in these situations: The first step is to look for professional help. When taking on your loan modification, unless you have previous experience, it’s […]

When people are looking to purchase a home they typically need financing. The interest rate is important but the loan officer handling the loan is even more important. You want to ask your loan officer the following questions and treat it like an interrogation so that you make the right choice.

If you have a really good employee and they leave, it is extremely difficult to replace them and it will cost you time, money, and resources. That is why it is important to keep your employees happy and engaged at all times. This article will go into the best ways to reward your employees so they stay as long as possible and go above and beyond the call of duty for you.