Tips For Successful Real Estate Investing From Hgtv’s Scott Mcgillivray – Forbes

ScottMcGillivray

A successful real estate investing model shouldnt just have one way to make money. My business model has up to four different ways to make money and the number one indicator I look for is not market value but positive cash flow and that calculation is completely different. Using cash flow as an indicator to whether a property is a good investment or not helps protect a buyer from being stuck in a scenario where not only is the value not there, theyre actually losing money. He illustrated his point with a personal example. I have properties that arent worth what I paid for them in 2006, however, Im still making money because I calculated the positive cash flow beforehand, knowing they are still paying down the mortgage today. Different ways to make money with no pressure to sell. Click here to listen to Scott McGillivrays three keys to successful real estate investing, along with what he describes as his hardest job, what its like to be famous, and what he enjoys when hes not working. Scott has been a real estate investor for over 15 years and has experienced hot and cold markets, as well as those that are just getting warmed up. In the last year and a half, I have a seen a massive trend in the amount of interest people have in generating wealth through real estate. I have been doing live events for seven years and attendance was low when the market turned south. But recently I was in L.A. and I spoke to 3,000 people in the audience it was standing room only. Generally speaking, McGillivray finds the millennial audience (18-35) to be curious, and the 35-65 year olds more serious about it as an income generator. He finds this age group the most prepared and motivated to start doing something because of triggers such as the need for extra savings and income for retirement or seeking financial alternatives to help put their kids through college. Its a reality check, said Scott.

AG Kane: legal actions taken against Dauphin Co. contractor – WHP CBS 21 Harrisburg – Top Stories

The North Carolina-based retailer announced Tuesday that it would spend about $20 million to buy and equip an office building in a business park on the city’s northwest side. The company expects to open the center early next year. Lowe’s vice president Don Easterling says the Indianapolis site was picked to add a Midwestern location to its current call centers in North Carolina and New Mexico. The Indianapolis center will occupy a building that housed information technology operations for drugmaker Eli Lilly and Co. until its lease expired last year. The Indiana Economic Development Corp. offered Lowe’s up to $5.5 million in tax credits. Developing: The tech juggernaut revealed fiscal 3Q profits-per-share of $1.28, topping expectations. Revenues, however, came in at $37.4 billion, missing views. Industries

Home-improvement retailer Lowe’s plans Indianapolis call center with up to 1,000 workers | Fox Business

This will allow the utility companies to mark off areas around your home to help avoid a hazardous or dangerous situation. Hiring Contractors: While most home improvements contractors operate an honest business, there are those who engage in deceptive practices and defraud consumers of large sums of money. According to the Attorney General’s office, before entering into a contract with a home improvement contractor make sure you: Ask the contractor for local references, and call them to see if they were satisfied with the contractor’s work. If possible, go out and look at finished projects. Solicit multiple bids for the work you need. Make sure each contractor is submitting bids according to the same home improvement project plans. Do not automatically assume the lowest is the best option. Ask if they will use subcontractors. If so, check their references and registration status. If your project requires specialized work, like electrical or plumbing, make sure your contractor or sub-contractors are licensed by the appropriate authority. Do not let anybody rush you into a home improvement project.

Home Improvements: DIY or Hire a Pro? | Fox Business

The cost of your time should also be considered when contemplating a project. Too often, people forget to put a price on their time when theyre deciding whether to DIY or hire, says Hicks. They add up the cost of the supplies and think theyre going to be saving themselves a bundle. They forget that they are likely going to spend more time on the workthan a professional would, even if it goes well. Another potential expense homeowners dont think about: getting hurt. Professionals are licensed and insured, so if they get injured on a job the homeowner doesnt have to worry about paying the medical bills. But if you get hurt during a project, you not only face medical bills you will also have to pay for a professional to come in and make the fixes. A rule of thumb, according to Zillow.coms real estate expert Brendon DeSimone, if its a cosmetic fix or project, DIY might be the way to go. But if its something that requires a permit or a specialist–leave it to the pros. You should paint, resand your floors, grout your tiles and stain your deck on your own, says DeSimone. Anything that requires specific knowledge or permits, you need to hire a professional. He adds bringing in an expert to deal with any structural, plumbing or electrical work as well.

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