The favorable buyer’s market has now extended to active retirement communities. And as prices drop, the younger demographic is considering investing in such communities. It’s not unheard of to have individuals in their mid-40s buying in. This would have definitely been unusual in the past, but this is a unique time we’re dealing with right now. If you have thought about investing in retirement community property in the past, this is the time to conduct a serious evaluation. 

When choosing a retirement community, it is important to find one that fits your particular needs. Many offer high-end amenities, but if they aren’t features you will utilize, they probably aren’t worth the extra cost. Do your due diligence and find a community with the type of features that appeal to you most. If you love the beach, look for deals in beach-side communities. The prices in these sunny havens may pleasantly surprise you. If you are more into seclusion and privacy, consider a more rural or mountain-based community. Additional features to keep in mind include golf courses, tennis courts, workout rooms and swimming pools. 

Active adult communities are definitely not for everyone. But if you are interested in broadening your real estate options, they can be an excellent option. Many communities are struggling to fill units and are offering deals that would have seemed impossible in recent years. Just make sure that you do your due diligence and don’t invest until you are good and ready. The deals are out there, you just need to find them.

If you are considering becoming a real estate investor, enlisting the help of a real estate agent can usually facilitate the process. With years of experience, great databases of buyers and sellers, and a solid knowledge of the local area, real estate professionals can prove to be great allies in the real estate investment game.

Both real estate agents and Realtors have to be licensed in the state where they work. The licensing process involves passing a background check, completing 40-50 hours of real estate courses at a state accredited facility, paying application fees, passing a written test on real estate trading laws, and fulfilling several post-licensing required courses within a year of receiving their real estate agent license.

Once a real estate agent gets their license, they get hired on by a broker or Realtor to oversee and facilitate transactions. Real estate agents are not authorized to work independently and must be represented by a broker or Realtor. In order to become a Realtor, brokers must take more courses, pass another test, and agree to follow a strict code of ethics set up by the National Association of Realtors (NAR). The code of ethics requires that Realtors pledge to put the interests of the buyers and sellers before their own, not exaggerate or conceal facts, not collect commissions that buyers and sellers are not aware of or do not consent to, and generally be honest in their business dealings. The code of ethics set up by the NAR is strictly enforced and is a good indication to buyers and sellers that they will be treated fairly.

As an investor, it’s not essential that you use a real estate agent or Realtor at all. If you do decide to get help from a real estate professional, do your homework. Look for agents and Realtors with experience and good track records. Ask locals for recommendations of real estate professionals they know and have worked with. A good professional in your arsenal can really help your investment business take off.

If you have tenants that leave items behind, you may assume you can do whatever you’d like with them – keep them, sell them, or throw them away. However, this is not the case; when dealing with abandoned goods you have obligations as the landlord, and you’ll want to make sure you protect yourself in case the former tenants come back demanding their things.

The first step is asses what’s been left behind. Write down and take pictures of all pertinent items that have been abandoned. If you so choose, you can also enlist an appraiser to come in and value any items. While you can throw away perishable food items, if you want to fully protect yourself you shouldn’t really go any further.

After fully assessing and recording what you’re dealing with, contact the former tenants and explain the situation. If you’re unable to get a hold of them by phone – or even if you are – you’ll want to send them a certified letter stating they have a certain amount of time (30 days, usually) to collect their belongings. State that if they fail to do so, the items will either be sold or donated. Also include that until then, the items will be stored at the former tenant’s expense.

If they come to pick up their property, then the problem is resolved. However, if they don’t then you will need to take the next steps in selling or donating their property. This can be a tedious job, but it’s also a way to potentially recoup costs. Be sure to fully document everything so you can protect yourself if something comes up in the future.

Perhaps the easiest way to prevent all of this hassle is to include something in the original lease or renter’s agreement regarding abandoned goods. There should still be a reasonable amount of time allotted, and you should still try to contact them directly to come pick up their stuff, but preparing for that potential scenario can prevent future heartache.

So plan ahead and fully protect yourself, and managing abandoned goods shouldn’t be a problem at all.

All too often, the most productive, successful people in the world are also the most stressed out, unhappy, basket cases in the world. Most of them probably think that happiness is more of an indulgence than a necessity and that if they want to stay on top of their game, they need to sacrifice leisure, balance, happiness, and all other time-consuming, fluffy sentiments. This is false!  Life is too short to spend every moment of it in a flurry of anxiety and guilt and toil. Teach yourself to change the way you think about productivity and happiness. You’ll be happier and more productive because of it.

Don’t follow the format – There’s a good chance that in your lifetime you’ve been told what professions will make you the most successful: doctor, lawyer, investment banker, etc. – these are all great careers if they appeal to you on personal level. But you shouldn’t pursue a career just because it is supposed to be lucrative. If you don’t enjoy your work, you won’t put in the effort necessary to be good at it, and if you aren’t good at it, you won’t make any money. Everyone should spend some time trying to figure out what they want and who they want to be, and building a career for themselves that points them toward their goals. If you are passionate about what you do, your work won’t seem like work, and you will be able to spend more time on it without sacrificing an ounce of happiness.

Spend time on yourself and your dreams – So, maybe your love of writing children’s poetry or playing guitar doesn’t translate into a viable career. Don’t give up on your passions just because you can’t make money from them. Instead of wasting time watching TV shows you don’t care about or fretting over the next day’s errands, do something that fulfills you. It’s funny how leisure time can feel productive when we spend it doing things we really love.

Learn to focus – Ok, so it’s a lot easier said than done. Our minds are almost always entertaining more than one thought at once, but it’s possible to learn to control it. It’s a skill that takes time and patience and practice, but it’s possible. A method that works well for some people is setting a timer for a short amount of time: 15 or 20 minutes, and really focusing on one task for just that period of time. Then, when they finish with their 15-20 minutes, they take a quick break to stretch and do it again. It’s also much easier to focus when you are organized and aware that each issue will be attended to in order of importance. With practice, you will be able to acknowledge erroneous thoughts as they come up and dismiss them before they take up any of your time.

Live in the moment – Do you ever have days when it feels like you’ve had way too much time to think?  Sometimes we get caught up in our cerebral world of worries and philosophies and all of the things we didn’t have time to get done yesterday. Live in the moment. If you feel overwhelmed by thoughts, stop and just appreciate your surroundings and your senses. It sounds all earthy and “enlightened”, but it’s true!  Open the windows, smell the air, or have a cup of tea. Appreciating your physical state and surroundings helps you to stay grounded and makes you feel alive.

Push yourself – Within reason, obviously, but the more often you push yourself, the easier it becomes to go a little further the next time.  Also, contrary to common belief, the more you do the more energy you have to keep doing. Push yourself in every aspect of your life – physically, intellectually, and emotionally. When you work, try to be more productive and focused. When you play, try to appreciate each moment. The more you push yourself, the more you stretch, and the greater your capacity becomes for productivity, balance and happiness.

A Real Estate Mortgage Investment Conduit, or REMIC, is a kind of special purpose entity, or SPE, made up of various mortgage loans for the purpose of issuing mortgage-backed securities, or MBS.

Are you confused yet? Let’s break it down.

A REMIC is a legal entity – a limited partnership or a limited liability company – created for no other purpose than to pool mortgage loans together. (This narrow purpose is what makes it a “special purpose entity” or “special purpose vehicle.”) Once the REMIC has invested in selected family, commercial, second, or other mortgages, it issues securities (hence mortgage-backed securities). Each security issued represents a portion of all the combined mortgages, as opposed to each security representing an individual mortgage.

To make it even simpler – and maybe even oversimplify – a REMIC company is created for the sole purpose of buying mortgages. The company buys the mortgages, knowing they will see a return on their investment as people pay back their mortgages. This company takes it a step further by allowing people to invest in their company through securities – securities made up of portions of each mortgage.

There are several advantages to REMICs. Because they are made up of many different mortgages, if some of the mortgages default it may lessen the value of the security, but being broken up to include lots of mortgages makes it more diverse and more secure. The actual REMIC also doesn’t have to pay federal taxes, although individual investors are required to pay taxes on any income.

One disadvantage to a REMIC is that once the mortgages are bought and pooled, it’s not easy to add or remove individual mortgages. This means if one or two mortgages bundled in the REMIC aren’t doing well, investors are stuck with them. The other major disadvantage to a REMIC if all the mortgages default (like what’s happening with the current real estate market) then the REMIC loses almost all of its value.

So while a REMIC may be a good investment, it’s important to take into account current market trends.

Craigslist attracts over 10 million unique daily visitors, making it one of the most popular websites in the country. Its ad structure is city-specific, allowing you access to extremely relevant traffic. For these reasons, Craigslist is a powerful asset for real estate investors. Here are four ways Craigslist can help your real estate business today: 

Sell a house. When you list a property in the “Real Estate for Sale” category, you’ll reach a vast market of real estate buyers. Make sure you list the house in the city closest to where it is located, even if you live and work in a different city. For example, if you listed your property in the city you work from, but it was located in a nearby city, very few of the Craigslist users who saw the ad would be interested. Make it as relevant as possible by listing it in the city section where it is located. 

Build a buyers list. Even when you have a likely buyer lined up for your property, it can be smart to leave the ad up a little longer. This allows you to build a list of people who are interested in that specific type of property, which you can find properties for and contact in the future. 

Find workers. If you have a fixer-upper that needs specialized work, Craigslist is a great way to find workers. You can look through the “Skilled Trade” category and find the specific craftsman for the job. Another option is to post an ad explaining exactly what you’re looking for and then let interested workers contact you. 

Find renters. Whether you have a home, condo, apartment or trailer for rent, Craigslist can help you find the right renters. Just make sure that you are specific in your ads and that you post them in the correct category.

Public Enemy Number One

Just like anything, procrastination takes work. Here are four practical tips for taking your natural tendencies to procrastinate and turning them into something that really sets you apart from the rest of the real estate world. If you truly dedicate yourself to them, you’ll be able to overcome any silly notions about success and become a master procrastinator.

Don’t plan. Planning is one of the single biggest enemies to procrastinators. Whatever you do, don’t give in to the temptation to schedule your days and weeks. Avoid calendars and day planners like the plague they are. No master procrastinator has ever mingled with these pesky little helpers.

Don’t prioritize. This is another annoying, new-agey idea which will severely hamper your procrastination efforts. Procrastination is best done when you are facing a chaotic mass of work, but becomes harder when you are dealing with organized tasks.

Don’t reward yourself for accomplishing tasks. Some people like to do this, but it is a huge mistake for a procrastinator. Your brain will remember the reward and you’ll be more likely to get the work done the next time. It’s too big of a risk if you want to become a master procrastinator, so carefully avoid incentives altogether.

Don’t work with others. The last thing a procrastinator needs is a group of motivated individuals offering friendly support. Don’t seek out fun projects, because you might get lost in the work and end up with a finished product. Nip this problem in the bud by refusing to collaborate with others.

Sometimes – especially when undertaking what may seem like a difficult task – our desire to be fully prepared for the task ahead makes us delay actually accomplishing the task. We want to study more, learn more, read more, and practice more instead of doing it more. There comes a point where you need to put down the workbooks, turn off the webinars, and get to work – and that point is usually yesterday.

Don’t misunderstand; this isn’t to say that preparation isn’t important. And you may be able to come up with plenty of convincing reasons as to why you’re not quite ready to roll your sleeves up and get to work; most of those reasons are usually rooted in a fear of failure or lack of determination.

However, there are plenty more reason to get started:

• Real-life experience is almost always a more efficient way to learn about real estate. You are going to learn more by doing it than you will simply studying it.
• No one is going to do it for you. Even if you have experienced mentors and talented coaches, you are the one who is actually going to have to put in the effort.
• While having knowledge is never a bad thing, knowledge becomes infinitely more valuable when it is applied. Otherwise, it only benefit is next time you play Trivial Pursuit or if you become a college professor.
• As you go out and do the work, you will find success and build your self-confidence – which, in turn, should bring more success. Sitting at home doesn’t do that.

So put the books away (although you should keep them nearby for reference), finish the workbooks (which you should also keep nearby), and get out a do the work. There will be some ongoing education; there’s nothing wrong with buying a new book or taking a new course from time to time. But the biggest benefit will come to you from taking action.

Utilizing basic accounting strategies is a great way to grow your business and become more efficient. As you save money and protect yourself from unnecessary fees, you’ll lay the groundwork for an even more successful business in the future. Here are a few simple tips from Professional Marketing International to help you make the most of your money: 

Watch out for nonpayment taxes and penalties. Make sure to review your monthly and quarterly tax reports. Ensure that all your returns have been filed and paid accurately. Don’t risk paying unnecessary fees. 

Take advantage of early payment discounts. Some of your bills may offer such discounts, so strive to be in a financial position where you can pay early. If a service provider doesn’t offer early payment discounts, consider looking for one who does. 

Avoid difficult clients. There are certain people who thrive on contention and will always dispute your fees and charges, no matter how legitimate they are. Even when you desperately need business, beware of clients who are more of a drain than they’re worth. 

Keep accurate records. Many small businesses get into trouble early on because they don’t keep track of their finances. For example, if you have a cash register, make sure that you balance the cash drawer each day. Small problems can compound fast, so maintain your records carefully.

Acquiring a broker license is an excellent way to broaden your skills and make yourself a more effective real estate investor. The process requires you to follow certain steps and then successfully pass a thorough exam, but the payoff is worth it. While each state has its own laws and criteria for brokers, there are some general things you can plan on if you are interested in getting a license. According to the real estate experts from PMI Education, here are the four major steps you must take to acquire your license: 

Do your homework. It is important to learn the requirements for your specific state. There is significant overlap for most states, meaning that once you have done your due diligence, you will be well prepared for what comes next. 

Prepare for the exam. Go online and look for mortgage broker classes and training in your area. There are also programs that are administered entirely online. You don’t need a college degree to qualify for a broker’s license, but it can help if have one. 

Take the exam. Passing the mortgage broker written exam is required to get a license. It is a multiple choice test covering areas such as loaning processes, lending, laws and definitions. 

Apply for your license. You can only apply for a license after passing the exam. To do this, you’ll need to fill out an application form and pay the application fee. As part of the process, your criminal record and credit history will be closely monitored.