Real Estate Investing Mentor and Educational Entrepreneur, Author, Speaker

Huge Price Drop in Miami Gardens Properties?

Future Trends – Re-Inspections and Increased Violations for Non Permitted Work About 12 years ago a commissioner in the city where I live was running for reelection. His primary platform was he wanted to have re-inspections mandatory for every property that was sold in our city.  I mounted a strong campaign against his reelection and he…
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Who Owns The House In The Back Yard?

Title Survey – Learn Why in Certain Situations, It Could Be Your Best Friend I have seen this issue too many times.  The homeowner of a property builds a rental unit, mother-in-law quarters or other “house” in his back yard.  Very often the water and electric are connected to the front house.  But what happens…
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That’s a Great Deal at $30K Profit or Is It?

Evaluating Your Real Estate Investing Profit Closely A listing agent told a Student that he had a buyer for the property the Student had under contract for $30,000 above the Student’s price.  Thirty thousand dollars doesn’t sound bad but let’s look at the reality of the complete transaction. To a casual observer this “shinning profit”…
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Agent uses PDF Editor to change State Approved Real Estate Contracts

State Approved Real Estate Contracts – Scrutinize Every Detail A rage that has been going on for some time is the purchase of Homeowners Association (HOA) liens at the foreclosure auction.  Up until the last five years HOAs seldom used the foreclosure process to collect back fees and assessments.   Because most units continued to pay these…
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Attorney Simply Strikes Out Parts of Vital Real Estate Contract Clauses

Real Estate Contract Clauses – Be Careful Out There! Just when you think you have seen it all something new comes up.  A Student called and asked me to look at a contract he had received back from a seller.  The contract had a large number of changes that were either struck out or written…
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As Is Real Estate Contract Does Not Mean As Is

Make Sure You Know What an As Is Real Estate Contract Really Means It is a very common misconception that when a seller uses a real estate contract designated “As Is, Where Is” that the buyer must accept whatever problem the property has at closing.  The reality is that probably 90% of contracts that are…
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Are Quitclaim Deeds Simply Rip-offs?

Quitclaim Deeds – Are They a Warning Sign of a Bigger Problem? A growing trend in real estate sales is for sellers to transfer title by using Quitclaim Deeds (a.k.a. QC Deeds).  By way of introduction, this type of deed transfers title from a property owner to a buyer with any “encumbrances” or title deficiencies still attached…
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How Do You Handle $1MM Property Liens in a Wholesale Deal?

Property Liens – Are They Killing Your Deals? There are property liens (sometimes also called code liens) and then there are PROPERTY LIENS.  They can be for safety issues like unpermitted structures, faulty electrical work or having a dangerous animal.  They can also be for nuisance issues like junk cars in the owner’s yard, not mowing the…
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Difficulty with Realtors® – Is This the Lowest Low for One of Them?

Realtors® can be blessings or curses to investors.  They are seriously overworked, under paid and over-regulated and, frankly, there are just too many of them.  Some make great money but the National Association of Realtors® says that 87% fail their first year.  The median income is just over $45,000 annually.  Nearly every Realtor® I have…
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Danger Coming Soon to Every City – Mandatory Reinspection for All Rehabs

Rehabs and Mandatory Reinspection, Headed Your Way? Many years ago a local politician ran for re-election on a platform of reinspections of all properties before their deeds could be transferred.  El Portal in Miami-Dade County had already passed this legislation.  Home values dropped dramatically overnight as homeowners tried to sell their homes with illegal carport conversions…
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