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This article talks about one of the most important and good news related to real estate investment in Texas…

I want to talk about a new report that just came out from Movoto.com. They have done some research that would be quite interesting for the people who are in Texas.

So, all of you Texas real estate investors listen to me on this because I think this could be really important for you.

According to a new study research, “Most families can afford purchasing a house”. There are a couple of things that are really interesting and according to the study of 2010-11, “Average family income was $64,400”, which I think is quite impressive.

With that, a family can typically go up to a $215,000 purchase price but according to Movoto.com, they are saying that $150,000 purchase price is going to be something that they would be more excited to do. They can go up to $215,000 but they would rather stick around $150,000.

I have talked about it time and time again that you should invest in low end income houses. You shouldn’t try to invest in half a million or million or 300,000 dollars houses.

Again, this study is also going to tell you that the maximum you are going to sell the property for is $215,000 and the more likely price you would like to get for a property is $150,000.

There are a couple of things, which are really important here:

1. Look for Family Houses – We are talking about families here. You should be looking at the houses, which have 4 bedrooms, 2 bathrooms because we are talking about families and annual household incomes within the families itself.

2. Don’t go over $215,000 when it comes to the sales price

3. The most likely prices for family homes is $150,000

So, when we talk about all these types of things, you don’t want to stick to high end homes or expensive properties that are over $215,000 because it will decrease your chances of success as a real estate investor.

If you want to make your real estate investment deal successful, you need to look for family homes in residential neighborhoods with 4 bedrooms, 2 bathrooms. As you are buying, fixing and reselling that property, you need to be looking at homes that are going to sell for no more than $215,000 as a maximum.

There are more than 50% of buyers or families out there, who can afford a home for more than $150,000-$215,000 based upon their incomes.

One of the other things that are pretty interesting is that on Movoto.com, more than 55% houses on their website are under $215,000 and an additional 24% are under $150,000.

It is really easy to tell where the majority of the homes are. It’s under that $215,000 range, which most of the families can easily qualify for, with the median range of salary of $64,400 and most of them are willing to spend $150,000.

So, this is buyer speaking to you. They are telling you what they want. This statistical information means that the real estate investors shouldn’t be purchasing homes or trying to sell them over $215,000 and make sure that you are buying family properties because they are the ones who would be purchasing them at the time of reselling.

Do you want to become one of the most successful real estate investors? Do you want tips on finding a good property? Are you looking for financing? Then, you have come to the right place as we have answers and solutions for all your questions.

There are very few hard money lending companies, which specializes in helping educate and provide financing for real estate investors.

DoHardMoney.com is one of those companies, which believes in educating and advising their investors as well as giving them the money to back up their advice.

There are so many educators and so-called gurus out there but there are very few of them, who will actually provide you with the funds to be successful in real estate investing.

Today, I want to talk about a tip on great ways to find properties.

One of the greatest or additional resources that you can use to find properties is local classifieds. In every single market place, you are going to find some type of classifieds that you can use.

Typically, an online classified posting service, that is free to post properties. In each local area, typically it is going to be a news station or some type of an online classified like craigslist but usually there is a localized online classifieds that you might be familiar with or find out about.

If you have found out about that local classified, some of the things to look for are the homes that are posted by owners, not by real estate agents and there is a couple of buzz words, you should put in there.

What you can do is put an asterisk mark before and after the words or sometimes an asterisk mark before the word and you can type-in these words and if you are in the home section, you can pull up any of these hit words.

One of these hit words is “must sell”. If someone has put in there “must sell”, then it’s probably a good opportunity for you to give them a call or contact them.

Someone may say “rehab” or “cash only” or “divorced” or “bankruptcy” or any of those types of keywords. You can search with any of these types of keywords that will help you narrowed down to what’s going to be the best property for you to take a look at.

That’s one of the tips that I have got for you today. A great way to find properties is by using your local classified but not just searching the local classified but using the keywords that you know will going to help you lead towards the motivated sellers, that are probably interested in accepting cash offers or need to do something with their properties right away.

That being said, if you have any interest in expanding your real estate investing career, then you should look for those types of hard money lending options, where the lender is willing to give you the money along with the advice.

A common myth that a lot of real estate investors struggle with as they are trying to find success in their real estate endeavors, is imaginary situations.

Imaginary situations are never going to help you make real money. Imaginary situations are basically the what-if games.

When we talk to potential real estate investors, who are just getting started, they have hundreds of questions about what if this and what if that.

I am not saying that you shouldn’t educate yourself about real estate investing but at a certain point, it is about taking action and not about asking all the what-ifs.

There’s a certain point where the next step is to start making offers on the property rather than asking hundreds of questions about what the possibilities may lay and therefore, it is important for you to start finding the right property by using the tips I have given above.

The secret is if you will find a good deal, the money, the contractors and everything else will fall into the place and if you will spend majority of your time in finding those good deals, then everything else will follow in the place for you.

Hence, focusing on the money making activities of your business will help you lead towards profitability faster than anything else.

I am not saying to get smart about the situation in a day but you can educate yourself and one of the ways of educating yourself is by getting the free copy of my book and CD

I found myself in the middle of a HUGH lake on my boat that would not start. I don’t understand why, we had been on the boat cruising along, stopping and starting for several hours. We were on our way back to the dock and the kids had just fallen asleep. We were having great conversation with some friends and decided to just put around very slowly in the boat, we had been moving at a very slow speed for about 1 hour and the boat just stopped. I tried to fire it up several times and nothing would work.

We checked the gas lines; I made sure that the carburetor was getting fuel. I could not find anything.

So, reluctantly I had to get on the radio and ask for help. We tried to flag down other boats that where out having fun. No one would stop for us, I don’t know if they just did not want to stop their fun or if they did not know we were in help.

Then I had to do the unthinkable, Call the Coast Guard Auxiliary. When I called them they have a checklist that they followed

1. Full Name First and Last
2. Cell Phone Number
3. Position on the Lake
4. Are you sinking?
5. Are you on Fire?

When they arrived they required everyone to have a life vest on including all the adults before they would tow us. In addition they made us sit on the sides of the boat incase the line snapped. You can tell this is not the first time that these guys had towed a boat.

As we slowly made our way back to shore and fought to get the boat back on the trailer by brute force I had a few lessons for the day.

1. To expect the unexpected. We had food and water and could have lasted a long time out there if we had to.

2. Be Prepared. We had Cell phone, Radio, Flares, Spot lights, whistles. You name it my boat is ready to go

3. Checklists work. Have a checklist and use it.

4. It SUCKS to be helpless! I do not like the feeling of helpless, we had a paddle but we where a very, very long way away from the dock. The feeling of being helpless has to be one of the very worst.

As I thought about this I reflected on many of our members and how it felt to have the feeling of helplessness about personally finances or evening doing your first real estate deal. I can assure you first that those feelings are natural, but secondly the best way to get over them is to take action. Not just action, but Massive action. Make something happen right away, remember your goals and what you are trying to achieve and work hard not matter what to get them.

Also don’t forget there is help along with way, if you ever need a tow in your real estate investing please let me know. I can help!