Промышленный лизинг Промышленный лизинг  Методички 

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2. Do the owners have the time and financial resources to carry out the foreclosure option they think makes the most sense?

If they cannot answer yes to both the time portion and the financial resources portion of the question, we tell them that that foreclosure option is not going to work. We then offer to buy their property. If they answer yes to both the time and financial resources portions of the question, we ask them the next question.

3. Do the owners want our help in carrying out the foreclosure option they have decided on?

You have to be careful here. You cannot give the owners legal advice unless you are an attorney. You dont want to get too involved because you open yourself up to liability if things dont work out well for the owners. You also cant waste your time helping them without making any money.

When the owners say yes, they want our help, we have found that what works best for us is giving them the names of several attorneys who specialize in helping people in foreclosure. We leave the owners our contact information and keep open the possibility that we will buy their property.

When they say no, they do not want our help, we have found that what works best for us is leaving them our contact information and keeping open the possibility that we will buy their property. In other words, we are flexible knowing they may indeed call us back and offer to sell us their property.

The Owner Wants to Sell You The Property

Lets say you have an owner who wants to sell you the property.What do you offer the owner for the property? You must make your offer based on your analysis of value. Do not make any offers until you read the next section on knowing value.

If you are very comfortable with knowing value in your target area, then you may want to skip ahead to the following section, Buy the Owners Equity, Not the Owners Property. However, we strongly recommend you read this section first. You are an investor buying at a wholesale price. As an investor, you cannot pay a retail price. Make your offer low, and let the owner decide whether to accept.



How do you know that you are buying at a wholesale price? You know you are buying at a wholesale price because you know value. You will become an expert in valuing real estate in your investment target area. You will know the retail value, the wholesale value, the appraised value, the loan value, the replacement value, and the property tax value of every property in which you are investing.

Knowing Value

We are going to take you step by step through the knowledge we have gained as investors valuing real estate. We will define the six values that all real estate investors need to know about the property they are investing in. We will show you the three ways to value real estate that are used by appraisers. We will explain the four elements of value. Then we will reveal four great forces that influence real estate value. Finally, we will teach you seven ways to know value in your target area.

The Six Values Every Real Estate Investor Needs to Know The

six values that every real estate investor needs to know are the retail value, the wholesale value, the replacement value, the property tax value, the loan value, and the appraised value. When you know these six values, you can feel confident and comfortable making a real estate investment. When you do not know these six values, you will feel unsure and uncomfortable making a real estate investment.

1. The retail value is the value an end user, such as a homeowner, places on a piece of real estate. The retail value tends to be the highest value of all the values placed on real estate.

2. The wholesale value is the value a real estate investor like you places on a piece of real estate. The wholesale value tends to be the lowest value of all the values placed on real estate.

3. The replacement value is the value insurance companies place on the improvements on a piece of real estate. The replacement value is determined by the cost approach to value.

4. The property tax value is the value the local property tax assessor places on a piece of property. The property tax value can be higher or lower than the retail value.

5. The loan value is the value a real estate lender places on a piece of real estate. The loan value tends to vary as a percentage of the appraised value.



6. The appraised value is the value a real estate appraiser places on a piece of property. The appraised value is typically at or near the retail value.

Three Ways to Value Real Estate There are three ways to value real estate.These are the cost approach, the income approach, and the market comparison approach. These three approaches are the approaches used by professional real estate appraisers when they are appraising a property.

When you understand these three approaches to valuing real estate, you will begin to start thinking like a professional appraiser. As you encounter a property, you will begin to think what approach to value makes the most sense to use with that property.

1. The cost approach consists of three parts. First, value the land. Second, value the improvements and add the value of the improvements to the value of the land. Third, determine the accrued depreciation of the improvements and subtract the accrued depreciation from the combined value of the land and improvements.

2. The income approach uses the income a property produces to determine its value. We say it this way:The value of an income property is in direct relationship to the income the property produces.

3. The market comparison approach uses the value of similar properties to determine the value of a particular property.You compare properties that are similar to the property you are interested in to determine its value. We say it this way: No com-parables, no contract.

Four Elements of Value There are four elements of value.These four elements are demand, utility, scarcity, and transferability. These four elements are the constituent parts of value. We remember these four elements with the acronym DUST: demand, utility, scarcity, and transferability.

When you know the four elements of value, you have an advantage over your competition. You may see a use for a property that no one else sees. You may figure out a way to transfer a property title that other people cannot figure out how to transfer.



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