One of the key skills you’ll need to learn as an investor is how to structure deals. When you get really good at this, you’ll be able to pull some real magic tricks out of your hat and profit from deals that other investors wouldn’t touch because they can’t figure out how to make it work. I’m not there yet…I’m definitely still in the learning stages. I spent my first year in real estate investing only making offers on bank owned properties, but once you deal with private sellers it is an entirely different ball game. In fact, I’ve dealt with lots of rejected offers from private sellers over the past several months. Sure, sometimes the sellers simply aren’t motivated enough, but I also have to consider how I can structure and present my offers in such a way that I can increase my number of accepted offers.

In case you’re in a similar boat, I thought I would share a few tips that I’m putting into practice that I’ve received from my mentor as well as fellow investors with several more years of experience under their belts working directly with home owners:

#1: Always provide a written offer

It’s easy to think that you’re saving time by giving sellers verbal offers, but frankly everyone likes to “see it in writing.” Regardless of whether you think your offer will be accepted or not, put the offer in writing and allow the seller a chance to review it and give it due consideration.

#2: Remember cash isn’t always king – give options!

In the beginning, all I would make are low cash offers thinking “Cash is king, right?” Well, yes and no. It can be king for some sellers, but not for others because it really depends on the seller’s situation. Be sure to give the sellers options. If you ask the seller some key questions (e.g. how much is owed on the property, why they are looking to sell, what they plan to do with the money after they sell) you will be able to determine what types of deal structures could possibly work. For example, your written offer can include a few different options:

■Cash
■“Subject to” (liens remain in place and you take over the payments)
■Seller financing
■Combination of “Subject to” and seller financing

#3 Consider an option contract

If your intent is to assign the contract and the seller just doesn’t seem to want to meet you at a number you’re 100% confident with, consider an option contract at the sellers price and just go out there and see if you can find a buyer within the option period (get at least 90 days). There’s no risk! If the seller’s price is completely unreasonable, you don’t need to waste your time….but if its just a little bit too high for your comfort level, go ahead and get that option agreement signed and see what you can do with it.

#4 Consider a partnership

My mentor gave me an example of a deal he did where there was substantial equity in the property but the home needed a lot of work. After a rehab, it was going to be an excellent home to sell to a retail buyer. What he did was set up a contract with the seller and they agreed to rehab the property, market it, sell it, and split the profits. The seller paid the mortgage and carrying costs while the rehab was completed and they both made a nice profit when the property was sold. A win-win for everyone.

#5 Always follow up

Persistence pays. Even if the offer is rejected now, the seller may have a change of heart later. Be sure to follow up a few months after you’ve made the offer and check in to see how things are going. I’m currently working on a deal with a seller I made an offer to back in November! This is more common than you’d think. Don’t miss out on deals because of a lack of follow up.

by Shae Bynes

A home is probably the most valuable asset you will ever own, so it must be protected with adequate insurance. The basic homeowner insurance policy covers against damage from thunderstorms, lightning, fire, smoke, burglary, defacement of property, civilian chaos, vehicle or aircraft damage, and volcanic eruptions. More comprehensive policies cover against damage by earthquakes, floods, ice, sleet or the malfunction of an air conditioner or heating unit.

Condominium owners are typically required to have an insurance policy that only reimburses them for loss of their belongings. The condo association should provide structural insurance, which covers the roof, outside and adjoining walls.

There are two primary types of home insurance:
1. Actual cash value coverage pays the value of property or belongings at the time they were lost, taking into account their age and depreciation.

2. Replacement cost coverage provides enough money to replace lost or damaged property or belongings with new items at cost.
Usually there are replacement-cost limits for certain expensive items, such as jewelry, artwork, antiques and home office equipment. Consult your insurance agent about taking out individual riders for additional coverage on these possessions.

It’s wise to keep an itemized record of household contents, noting their value, date of purchase and description. Valuables should also be photographed or video taped. This will help determine their replacement cost.

Experts suggest that a home be insured for at least 80% of what it would cost to replace at its current value. Finally, a homeowner policy should be reviewed every year. If you have made any improvements, or the home value has increased, more insurance may be required.

Always consult with a licensed insurance provider before making any changes to your home insurance policy.

Monday
Monday Night Musician’s Jam Network
Vegas Singers, Musicians, and Music fans plan on coming to the Monday Night Musician’s Jam Network. Jam & Network for free, all genres welcome.

Tuesday:
Tuesday Night BLUES @ The Saloon
Vegas Singers, Musicians, and Music fans plan on coming to the Tuesday Night BLUES @ The Saloon. Jam & Network for free.
“The blues tells a story. Every line of the blues has a meaning” ~John Lee Hooker

Thursday:
THE MOTHER OF ALL COMEDY OPEN MIC NIGHTS (PART DEUX.4)
The April Fools Edition of The Mother of all Open Mic Nights is ON!

This weeks special guest host is none of than lovely, witty, and charming Mike Shank!
Come out and support Shanker and Friends for a night of laughs and drunken mayhem!
What else is there to do on a Thursday night now that the NCAA is down to the final 4?
$2 Bud, $3 Well Drinks, and NO COVER!!!

Friday:
The Voodoo Cowboys will turn your Good Friday into a REALLY GOOD FRIDAY
The Voodoo Cowboys will be rocking the Las Vegas Country Saloon this Friday night
Always free
Always rockin’
…and Always a great way to end the week

::::SPECIAL ANNOUNCEMENT:::::
HUGE BREAKING NEWS COMING SOON
You don’t want to miss this performance~!!!!!

Have a wonderful week and an incredible Easter Sunday~!!!!

Come out to meet, jam and most importantly network with your fellow local singers
and musicians at a great venue with a state of the art lighting and sound system.
Looking for a sub, a sub job, a gig? These are the events to be at each week.
Many talented musicians have been found by gigging bands at this event.
So bring plenty of business cards.

Come early to guarantee your spot as space is limited~!!!!
Monday Night Musician’s Jam Network
This weekly free event is the opportunity for you to jam and network with amazing local talented musicians.

Out of respect for the musicians, please bring your own Guitar, Bass, Keyboard, or sticks.
The drums, amps, backline, and mics are already there and ready for you to rock ‘em.
Come early to sign up as we are expecting a large crowd of very talented Blues, Rock, and Country musicians~!!!!

Sign up as early as 8:30pm – music starting at 9pm until Midnight

Las Vegas Country Saloon
425 Fremont Street at Las Vegas Blvd
(Above Hennessey’s)
This venue is family friendly – under 21 welcome

For additional information, contact VIPette Events (702) 556-3558 or email VIPette@cox.net

Support Live Music in Las Vegas and venues who book live music~!!!!