You Can’t Handle The Truth !

The hardest thing that I have come to find over the last 28 years that I have been in the Real Estate business is telling people the truth.

Not that I have a hard time speaking the truth it is just hard to get people to realize that you are speaking the truth and not employing a sales technique on them. Let me explain.

This happens all the time. I get an email from a perspective buyer the other day looking to purchase their first home in a close in to downtown Portland Oregon a few days ago. I call them to perform a diagnostic about their needs and desires vs their abilities to purchase. Yes they have been to a lender to get pre-qualified and they are optimistic and motivated to buy. All good signs however their area of choice is in the hottest neighborhood in Portland with very few listings and even quicker closing times. Our MLS reports 27 days average. Which means realistically homes are being sold in the first few days. Now I have all my buyers set up to receive new listings from my web site at http://www.hportlandrealproperty.com my web site covers all of the MLS listings and is updated every hour so you are getting the freshest an up to date information. And for proactive buyers such as this couple I have them set up to recieve listings ASAP so that they will be randomly notified throughout the day as listings matching their search criteria come on the market.

So the other day I check with them and ask them if they have seen any homes that they would like to see inside. Her response was all of the homes that we like are sale pending. How could that be I asked my site only sends you active listings which you will get within the first 30 minutes to one hour after the agent has entered into the MLS.

Her response was that she was searching on Zillow. So once again had to explain that sites like Zillow only are updated once a day and often have out of date information. My site is accurate and has the most up to date information that the consumer could hope to get. She prommissed to begin using the site. Sometimes it is just hard to tell the truth.

K

On The Hunt Friday!

It’s Friday? It has been years since that word has meant anything to me other than another work day prior to a heavy work weekend.

In the old days I used to look forward to the weekends as a time to blow off steam. But as an active Real Estate Broker Friday is merely the set up for an active weekend of showing homes and searching for properties for the investors and future home owners to be, my Buyers. Then of course there are the random calls that come in from those potential buyers crusuing my web site for pro-active Buyers WWW.househuntportland.com

Dont get me wrong , I do love it so. But once in a while it is fun to reflect. Well thats enough of that. It is time to get cracking. Valerie, Carl, Don, Teresa, Gary, and Josh are counting on me. How about yoU? Who is out there working for you? No one you say? Well I am applying for the job. Come find out why my clients say ” Call Herb and Start Packing. ”

Herb Hamilton is a licensed Broker with RE/MAX Preferred Inc Realtors.

Cell phone 503-515-8889

You may know more than you think!

It’s true you know. We all know more than we think. Why is that? Often it is because we know things that we think that no one else would be interested in.

It to that end I speak. Perhaps you know os someone who owns a multi family property within the greater Portland Oregon area that they are considering selling. Perhaps they are friends of yours or perhaps it may be you, and you or they are just tired of all the rental complaints and or ill timed calls.

Or maybe its just a friend who is overwhelmed and doesn’t know where to turn. Rest assured I will treat your friend with the utmost respect and will always tell them the truth. You see I am not trying to take advantage of anyone. I am just trying to provide a steady flow of good inventory for my clients. Many who are cash buyers but all who are willing to pay a fair market price.

If you think you can help either pass my name and number or provide me with the contact information of your friend.

A real estate transaction with Herb is one you may benefit from!

Herb Hamilton is a licensed Broker in the state of Oregon.

Herb’s cell 503-515-8889

The Search becomes a Quest!

As many of you may know I have been on the hunt for a good multi-family property now for a few weeks in the greater Portland Oregon area for a few different Real Estate investors. As a licensed Broker in Oregon now for some 28 years I have made working with Real Estate Investors the backbone of my business. I am constantly on the search for all types of investment properties. From the larger multi-family projects to the smaller duplex properties. I also look for fixer uppers vacant lots and or just plain old ordinary single family homes that may work as decent rentals. But my recent focus has been on the multi family properties.

This last weeks mailings netted me another potential prospect. An owner who last year had his 4-plex on the market without success. After a brief consultation over the phone the owner invited me to come take a look.

We set a mutual time and as usual I showed up a few minutes early and did the drive through around the neighborhood. So far so good! I met with the owner as we walked through the units I noticed that 3 have the units had been recently remodeled the 4th not yet as it was a long term tenant. We agreed to a price and a fair compensation for my work as this Owner preferred to represent himself.

I made my calls to my investors and Carl was ready to step up to the plate. Two days later after Carl had done his drive by I was ready to write the offer.

I called the owner. The owner said that after conferring with his property management company he decided not to sell as rental rates were going up and it was too good of money to turn down.

Ah the life of an agent is often filled with disappointment. The Quest continues. Surely there must be one person who is willing to stand by their commitments?

Herb Hamilton is a licensed Real Estate Broker with RE/MAX Preferred Inc. Realtors

Cell phone 503-515-8889

Best web site ever http://www.househuntportland.com

The Thrill of Victory and the Agony of Defeat!

A major portion of my prospecting campaign is centered around a mail out campaign. Recently I have been mailing out to Owners of Multi-family properties. The campaign has been going well.

Don ( I will call him Don ) responded to one of my letters via email. AFTER trading emails over the next two weeks I ascertained that Don owned a 9 unit apartment building built in the 70’s and that he wanted to sell as long as the offer was at least $700, 000. Don had also said that he had full authority to sell and we agreed upon a commission amount that he would pay and that he wanted to represent himself in the transaction.

Over the next 10 days I identified the right buyer and prepared an offer including lender letter of approval.

I called Don and set the appointment to meet him at his home at 10 am the next morning.

Presentation day and I am all set with extra copies of the offer and was greeted at the door by Don and ushered into the home and after a few formalities began the presentation. About half way through the presentation I noticed some movement just outside through the sliding glass doors in the back yard and flower garden. A lady appears and enters the home. The lady has a bewildered face on as Don introduces his wife to me. After a brief and cordial introduction and a very short disagreement which I did not quite understand (so many things between husband’s and wives are non-verbal) Dons wife retires to the family room.

The offer I have written is for $775, 000 a fair price for the property and well in excess of what Don had mentioned as his bottom line. Don thanked me for the fine offer and that he wanted to take some time to read through all of the fine print and that he would get back to me the next morning.

I thanked Don and his wife for their hospitality and said that I would await his call. ( The Thrill of Victory)

The next day in mid-morning Don calls. The call is short and to the point. Don thanks me for my fine offer but after speaking with his wife they have decided that they do not need to sell and instead have decided that they will keep the property. ( The Agony of Defeat )

Herb Hamilton is alicensed Real Estate Broker in Oregon with RE/MAX Preferred Inc. Realtors

Herb’s cell 503-515-8889

BPO, s what are they?

A BPO is a Brokers Price Oppinion. An oppinion of value of a real estate asset at time of vIewing and or for a specific time period requested by the requesting party. Most often the requesting party Iis a lender who may have a lean against the property. But it may also be requested by the owner or another interested party such as another lender considering making a loan against the property. Or it might be a request from the mortgage insurance company looking to remove te mortgage insurance premium established when the current loan was taken out.

So what is the value or difference of the BPO compared to an appraisal and or a CMA provided by Real Estate Agents?

An appraisal given by a licensed Appraiser in your state is most often the most consevative view of value for your home. The appraiser is looking to return a value that rmeflects the amount the purchaser is willing to pay with a value that Lender is reasonably safe in lending. It is why you do not see vaues of appraisals often exceeding the agreed upon price. A CMA or competitive Market Anaylisis offered by a Real Estate Agent is the opposite of an appraisal as it is usually the most opptomistic view of the home. The f ocus on the CMA is what is the most I can hope to get for this home and what is the least amount. A good agent would often try to choose a value in the middle but is often persuaded by the owner to choose the higher value.   The BPO is most often some where between the Appraisal and the opptomistic view of the CMA picking a value that is a realistic expectation.

For all your greater Portland Oregon Real Estate needs call Herb and ” start packing ”

Herb Hamilton is a licensed Real Estate Broker in Oregon cell phone is 503-515-8889

I made a Ton of Money Flipping House’s – Oh Yeah?

” Gold I tell you there’s Gold in them thar Hills!” Yes there is excitement in the air and much like the days of the Hollywood westerns a call to action. Gold? Well, maybe and maybe not. Certainly there is a profit to be made for the well prepared Real Estate Fixer Buyer. Is this You? Or will you just be one of the countless stories of failure.

Real estate investments in Fixer’s Flips and Rehabs be it Short Sales and or Foreclosures or in the Derelict/Abandoned homes  market can be very lucrative, If you know what you are doing.

It is that IF that separates the Men from the Boys so to speak. Even with the most experienced of us all there are mistakes made and money lost. But there are many things you can do to help eliminate those losses are at least lessen there effects on your bottom line.

Taking a seminar and listening to the rags to riches stories is one of the sure fire ways to quickly lose your shirt. They may be very motivating and fun to listen to but they are no recipe for success. While education is all good and well you can be over educated as well.

One simple plan that can set you on the right path is to look at investing in Real Estate as a Team Sport. Who would you pick to be on your team, assuming that you have done all of the preliminary work such as financing etc.

The Workers :

1. You ( will or can you do the work)
2. Contractor ( Save your self some headache early on a hire a Licensed Contractor for those jobs that you yourself are not capable of doing )
3. Special Contractors ( Roofer, Electrician, Plumber, HVAC, etc.) You do not have to have these people on the pay roll or at your beck and call but you should at least have done the leg work to check out the quality of work they can do and to compare their prices.
4. Real Estate Agent. ( Did you know that a good real estate agent can make you or break you in the Fixer and Flips market?)

Choosing the right Contractors and Real Estate Agent have many parallels. Your entire team should understand your goals. No member of the team including you should put their needs ahead of the others. A good team understands their place and the places of the other members.

So you have assembled your team and you’re ready to go! What then is a 365 Real Estate Investor? Given that there are only 365 days ( more or less ) in a year a budget needs to be set to meet your goals.

• How much money do you want to make per year after all expenses are paid?
• How much profit is there per project?
• How many projects will it take to reach my goal?

Experience is of course the best teacher. Start small and do not get carried away on that first project. Take on one that even if you fail will not take you down don’t let Greed get in front of the learning curve or your common sense. Build upon your successes for they are the foundation for a bright and profitable future in the world of Fixers and Flips.

Search  Portland Oregon Homes For Sale Right Here

Let Your Next Home find You !   Portland Oregon Info

” A Real Estate Transaction with Herb is one YOU will Profit from “

The Confused Dog Look

I had recieved an email in response to an internet add for Portland Oregon Properties for sale. The properties sounded pretty good and they were in an area that I like very much.

What was odd though was the Internet add did not identify any real estate company. Perhaps this was an Investor dumping properties? Or perhaps this was a SCAM ! Hijack or Scam, something did not smell right. Today on the Pickle!

The_Confused_Dog_Look!

Becky The Bomb

Do you over promise and under deliver? Sucessfull companies employ sucessfull people. The back bone of any great company can be broken by CEO’s or by the lowest man/woman on the totem pole.

Today on The_Pickle it still puts a smile on my face when I think about it. Guess she never learned the lesson about under promissing and there by over delivering. Check it out www.realestatepickle.com