Finding Real Estate Deals in your own backyard

If you are interested in getting into the real estate "game" your best chances of getting started are likely in your own backyard. First, you have an intrinsic advantage being a "local". You know the lay of the land, what areas are good versus bad, and you have a rough idea of what single family homes go for in your area's market. Just by simply looking at your local real estate agent's website, you can actually look at the various MLS listings of houses that are for sale in your area. Also, I recommend signing up online to receive mailers from your local auction house. I get mailers twice monthly from one of the biggest auction companies in my area. These are like mini-newspapers (that are free) with the latest properties, etc. that are going up for auction. This resource is extremely helpful. Recently, there was an 8-unit apartment building as well as a couple 3 bedrooms/2 bath houses in relatively nice areas for auction. The great thing about auctions is that you have the POTENTIAL to buy the property at a great price...even STEAL it in fact. By knowing and understanding your local economy and real estate market, you have an intrinsic advantage to being a local. I'd recommend, though, that if you decide to pursue the auction route, have a dollar figure in your mind BEFORE you go to the auction. Auctions are designed to stimulate emotions in people in such a way to make people raise the bid. Don't fall into that trap. Please do your research and develop your dollar figure before you go into the auction and make sure YOU STICK TO YOUR DOLLAR FIGURE. If you don't get the property, that's ok. Just remember that deals pop up every day! There will always be another deal.

Disclaimer, prior to purchasing any property whether via auction or sale, please consult with your real estate professional, lawyer, accountant, etc. to make sure the deal fits your investment objectives.

This book is excellent! It is an easy read and is an excellent text to follow for investing in apartment buildings. Apartments offer a nice avenue to building wealth. They generate positive cash flows, appreciate, are eligible for taxable depreciation, and you DON'T have to be a landlord!! The cost of entry is lower than single family homes and the best part is that they don't even need to be 100% occupied in order to generate positive cash flows for the owner. I highly recommend you pick it up and start learning today!!

My latest AdSense check!

Ok. So I got another AdSense check the other day and I cashed it out cause my wife and I needed some pocket cash. The check was for $106. Not bad considering I hardly touch this blog given my hectic lifestyle of being a busy young professional and new dad. I did manage to purchase some real estate investing books with my portion of the money - staying true to the whole premise of this blog. I take the money I earn using Google's AdSense program and use it in ways to either further my financial education or enable me to purchase further investments that will make me rich! The thinking here by buying these books will be to further my understanding of real estate and real estate investment. If you didnt know already by now, the majority of millionaires in this country either made their fortune or have a sizable portion of their wealth in real estate. So, my ultimate goal is to develop wealth using a variety of media, including securities and real estate. I have been staying true to my word about putting my AdSense earning in a high interest checking account, but there is nothing major to write home about there because that high interest checking account is paying like ZERO interest because of the economy. So, with this most recent check, I splurged about bought a couple books. I'll give a book review of each of the books I'm reading as I go through them and give you pearls of knowledge to take with you. Until next time...

What are we about...

So...I've spent the past twenty four hours updating and re-monetizing this blog! What a pain!!! Anyways, I think my ads are up and working again, which is good. Gotta be able to pay the bills!! Anyways...I've been placing this website over multiple avenues including DIGG, DIG, and other classified ad locations all around the internet. I'm trying to do this with as low a budget as possible - i.e free. So far so good. As of this writing, I have about 50 page views and five clicks for a total of $2.78. Not too shabby. I am hoping to improve my content, develop a following of readers, and go from there. Obviously, in order to make money with online advertising you need eyeballs!! So, the quest begins to develop unique content and get the message out to others. So, if you are reading this, here are some of the topics that I'd like to get into using this blog. First, I'd like to establish a niche for internet money making ideas (including Google's Adsense program, etc). Second, I want to open the floor up to other ideas for making more money with money (or no money of your own) - i.e. Real Estate/Cash Flow Properties like apartment buildings, rental properties and the like. Third, I'd like to make this a forum for discussing new business ideas, networking with other like minded individuals, and possibly coming together on certain deals or new, innovative businesses. Please feel free to leave comments as this blog is still in its infancy. I'd love to hear what you have to say because you can contribute to this site's evolution. So, if this sounds like your cup of tea, please feel free to bookmark us or come back regularly as we'd love to make this blog really pop!! Thanks for your time.

Adsense Mentors

Hey gang,

I just wanted to put a plug out there to my internet mogul mentors - Shoemoney and John Chow. These guys are pros!! If you want to learn about making money using your own website (of course read along on CashFlowGeek) but DEFINATELY use these guys!! Go to their websites and you'll see what I mean.

Rewards

Hey guys! I wanted to put a plug out there for those of you lookin to make some extra cheese in this down market. Chase Manhattan has a nice rewards program called the Chase Freedom card. If you don't have it, you should pick it up. Here's why. I went to the bank on Friday to deposit a couple checks. While I was there, the bank representative sat me down to discuss my rewards points (their offer to do so..not mine). Anyways...come to find out I had a TON of rewards points that my wife and I accumulated over the past two years (since we got the card). I cashed out - to a tune of $750!!! Not bad!! It's like free money. That lil' pile of cash can go into the pot of funds used to finance deals. Every little bit helps nowadays. I think it would be prudent for you to look into these types of cash rewards programs if you haven't already. It's basically free money because you spend money. That extra cash could pay for a cash-producing website for a year or two...and it was like cash I didn't even know I had!!! Think about it.

Cash Flow

Ok,

So I've been a little busy. I've been neglecting this blog. My intentions for this blog are good - I promise. I want to help others by trying to develop my wealth along the way.

Well...It looks like I'm due for another Adsense check. This is a great service. I haven't checked my Adsense account since January, right around the time I last received a check from the folks at Google. I haven't updating any of my blogs since then either, but it looks like I'm due for a check for $117 - for doing nothing!!!

So...as I promised, I will place this money in my Charles Schwab investor checking account and watch it grow. This money, over time, will grow as I make my contributions. I can use it for a down-payment on an apartment building, business, etc. Whatever I decide to use the money for, the bottom line (and ultimate message for you) is that I will ultimately use this FREE money to make more money, which is the ultimate sign of building wealth.

I'd love to hear any new ideas you folks might have to share regarding what your "cash flow" investments. I love to hear success stories and I'm sure as more readers catch on, they will too. I think it's best to help yourself by helping others first. So, feel free to chime in. For now, I'll leave you with that.