CLEVELAND OHIO REAL ESTATE INVESTORS ONLINE NEWSLETTER
"Investing in the local community and in each
other."
http://www.coreio.net
Vol.1 Issue #2 - Friday, November 15, 2002
View this issue on the web at:
http://www.coreio.net/newsletters/NL001-002-20021115.htm
Place your ad today!
mailto:info@coreio.net?subject=advertizing
Ezine Archives:
http://www.coreio.net/news.htm#Newsletters
~~~
Please Visit Our Sponsor!
Have you ever wished your work was a little easier?
You know, that you could get more done, in less time, with less hassle?
Software Simplified can help you do just that. By
automating repetitive tasks, eliminating duplicate effort, and making
processes less complex, we can both reduce your workload AND give you access
to better information about how your business is doing.
Find out more at:
http://www.softwaresimplified.com/
----------------------------------------------------------------------
Copyright (c) 2002 - Cleveland Ohio Real Estate Investors
Online .Network
PLEASE NOTE: This newsletter is transmitted
by subscription only to those who have
requested to receive it. We will NEVER provide
its subscriber list to ANYONE. We respect
the privacy of our readers. You can read our privacy policy
at http://www.coreio.net/Privacy.htm
To be
removed from this ezine send a message with "unsubscribe" in the subject
line to:
mailto:info@coreio.net?subject=unsubscribe
----------------------------------------------------------------------
- "What is an Investment
Property? Knowledge is Power"
- Today's Quote
- Investing Tip -
"We Gotta Network!"
- COREIO Classifieds
-
Landlord Tip of the Day! - Tenants are Customers
- Freebies on the
Net!
What is
an Investment Propery?
Knowledge is Power
Copyright by Barbara Meyer
Basically, an “investment property” is any real
estate that you purchase with the intention of earning a profit.
“Investment property” can be anything from vacant
land, mobile homes, single family homes, duplexes or apartment buildings all
the way up to multi-story office complexes. COREIO.net focuses on helping
the *residential* real estate investor – big or small.
As with any other type of investment, there is no
guarantee that you’ll make money by buying and selling investment
properties. You need to know your market, invest wisely, and actively
manage and maintain your investments (or hire someone to do this for you).
In general, you won’t be able to simply buy a
property then sit back and watch your investment grow. In spite of what the
infomercials may imply, there *is* some work involved. Happily,
there’s not as much work involved in real estate investing as there is in
many other money-making propositions.
To get started, the single, most valuable asset that
you need is knowledge. You significantly increase your odds of success by
doing all that you can to learn about real estate investing.
You need to be able to distinguish a good deal from
a bad one, you need the fortitude to walk away when it’s necessary, you must
be realistic in your goal setting and the amount of energy and commitment
you can devote to investing. Know yourself, your product and your market.
If you need help in any of these areas, hire a
professional who knows what they’re doing. Learn from them. Eventually,
you might not need them anymore, but if you’re just starting out or are
unsure, it will be money well spent.
Some of the pros that I have used in the past
include real estate agents (for learning the market), lawyers (to draw up
contracts and leases), and home inspectors (to find significant issues that
I might have overlooked – *before* the deal closed). That’s just a
sampling.
If you want to profit from investment properties,
knowledge is power. Whether it’s your own knowledge or the knowledge of
others makes no difference. What is important is making smart investments.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Barbara Meyer has been investing in real estate
for 11 years and is the founder of Cleveland Ohio
Real Estate Investors Online .Network
http://www.coreio.net
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"If you want to be truly successful invest in
yourself to get the knowledge you need to find your unique factor. When you
find it and focus on it and persevere your success will blossom."
-- Sidney Madwed
* * * * * * * * * * * * *
* * * * * *
--> Would you like FREE answers to your real
estate questions?
Become a full member of COREIO.net! We welcome members with any level
of experience. You'll be able to ask questions and share your
knowledge about real estate investing. You probably already know more
than you realize!
http://www.coreio.net/Members.htm
by Barbara Meyer
We
Gotta Network!
We’ve been getting more and more newsletter
subscribers, but new COREIO memberships have been downright dismal. This is
almost certainly my fault – I’ve been quite busy with my “real” job and
haven’t had much time for real estate lately. Sorry about that!
So I’m taking the opportunity now to point out how
your active participation in the COREIO Discussion List benefits all
of us.
When you participate, you build name recognition and
trust with the other members in the group. With trust, we become more
willing to “deal” with each other.
Personally, I want to buy another property
already!! I’d like to buy it from one of our members, but I don’t really
know them and I don’t know if any of them have what I’m looking for. This
wouldn’t be the case if they were actively participating in the group.
If you’re a member and you’ve forgotten how to
participate, simply send an email to
coreio@yahoogroups.com – it’ll automatically be delivered to all the
members.
If you’re not a member, you can sign up for free at
http://www.coreio.net/Members.htm.
After I send this edition of the newsletter, I’m
going to head on over to my email and see if I can get a discussion
started. Hopefully, I’ll be hearing from you, too!
And one more thing: if you’re a member and you’d
like to publish an article in an upcoming edition of this newsletter, please
submit it along with your bio info to
info@coreio.net.
Help me out – I can’t keep writing all this stuff
myself!! :)
******************
Tell a friend about COREIO.net!
The bigger we grow, the more you'll know!
Place an ad with COREIO News today!
mailto:info@coreio.net?subject=Classified_Ad
******************
Buy or Sell Your Home Yourself!
FSBO is not a bad word. It's not for everybody, but
if you're the right person, you can save thousands of dollars -- and
sometimes hassle.
Yolanda Kennedy, former real estate agent, offers
free resources, mortgage help and guidance that any home buyer or seller can
use.
http://www.UnitedHomesByOwner.com
******************
Is there a topic you'd like to see covered in COREIO
News?
Tell us about it!
Drop us a note at:
mailto:info@coreio.net?subject=News_Topics
We're here to inform you about the real estate
investing topics that are important to you, the local investor.
Your
Tenants Are Your Customers
Treat them that way!
Some of my friends can’t believe I actually like
being a landlord. They tell me they wouldn’t want to have to deal with all
the hassles of dealing with tenants, late rent, fixing up damaged property,
evictions, etc.
Honestly, I’ve never had to deal with any of those
problems.
Why? Because I focus on customer service and I put
it in writing. Your tenants are people just like you - if you treat them
with respect, 9 times out of 10 they’ll do likewise.
First off, if you don’t already have one, draw up a
lease. There is no excuse for not using a written lease or rental
agreement!!! This is a business deal and needs to be treated as such.
I make very clear, up front, what I expect from my
tenants and what they can expect from me in return. And I give them an
explanation that they can understand for WHY it’s important that they
“follow the rules.” I explain how the “rules” not only benefit me, but
them, too.
It’s a standard marketing tactic – tell your
customers what’s in it FOR THEM.
When a tenant has finally made it through my
rigorous screening process (a topic for another day), I meet with them to
sign the lease and collect their first month’s rent and security deposit.
Together, we go over my 8 page lease, item by item,
and discuss everything in it.
One of the things in there is the date their rent is
due. I take this opportunity to explain to them that I pay the mortgage
directly out of the rental proceeds. No rent means no mortgage payment – we
BOTH lose the house. Very motivational.
Another item in my lease describes what to do if
there’s a problem. For instance, if something is leaking I expect to be
notified immediately so that I can get it fixed before it causes further
damage (and reduces the value of my investment). If they fail to notify me
promptly, I’ll still pay for the repair, but the additional damage caused by
allowing the problem to persist comes out of the tenant’s pocket.
This clause benefits both of us – they don’t have to
put up with uncomfortable living conditions and my investment is protected.
My lease covers everything from roommates to pets to
where they can and cannot park their cars. By spelling everything out up
front, I make things easier on both of us.
And by taking the time to explain to them how the
lease benefits them, I ensure that they abide by it.
My tenants are very pleased with my policies as a
landlord, and I’m very pleased with my tenants. I love being a landlord!
Get free firewall software!
Do you use an “always-on” connection to the
internet? If so, you’re a prime target for hackers. Protect yourself and
your files by heading to
http://www.zonealarm.com and downloading your free firewall today!
---------------------------------------------------------------------
Ezine Publisher: Barbara Meyer
Cleveland Ohio Real Estate Investors Online .Network
http://www.coreio.net
440-546-1554
"Investing in local investors so that we can profit
from each other."
To place an ad contact:
mailto:info@coreio.net?subject=advertizing
To subscribe, send a message with
"subscribe" in the subject line to
mailto:info@coreio.net?subject=subscribe
To unsubscribe, send a message with
"unsubscribe" in the subject line to
mailto:info@coreio.net?subject=unsubscribe
Copyright
(c) 2002 Cleveland Ohio Real Estate Investors Online .Network
Articles in this newsletter may be available for reprint.
Contact the listed author to obtain written permission in advance.
For More Information Contact:
Cleveland Ohio Real Estate Investors Online .Network
7703 Treelawn Drive, Independence, OH 44141
Tel: 440-546-1554
Internet:
info@coreio.net
http://www.coreio.net
|
