Reflection

https://myq.quinnipiac.edu/committee/icm/SitePages/Writing%20for%20interactive%20media%20reflection.aspx

The future of Patches

            The voice that I have created through Patches is not going anywhere. I plan on using this voice as a foundation for my own personal endeavors in the real estate market as they get closer and closer. I want to continue exploring new areas of real estate that I am not as familiar with because just like the areas that I focus on have great opportunity, so do other areas that I am not as familiar with. I am glad I have become a more well rounded individual on this topic and I plan to continue building my knowledge base so that I can capitalize on all of the opportunities that are available to me.

            It is also a lifelong dream to start my own real estate corporation. The research and work that I have done over the semester can also serve as a foundation to this start up. I have become religious with reading articles and following along with the housing market. I check it constantly. This is an excellent habit that I have formed in this class which will be very useful if I am to start up my own business. I am also now familiar with not just one dimension of the real estate market. Creating the voice Patches has enlightened me to many things. A lot of the habits that I have formed over the course of this semester will help with my success in the real world.

            First it has enlightened me and showed me how little I know about the real estate market as a whole and how much more there is out there to learn about. When I started this class I really only knew one dimension of the real estate market working alongside my dad. After following the news on this subject so closely it has motivated me to continue educating myself so I can increase my chances for success in this field. The second thing that it has enlightened me on is how fortunate I am to have all of the experience that I do in this industry. I have been fortunate enough to have my father as a mentor in the real estate market. Other people are not as fortunate as I am and when they think of real estate they get very intimidated.

            Once this class is over I want to move forward with this voice in an even more unique way. I want to start a real estate community on social media platforms. The idea that I have in mind is to create a facebook page where people who do business in real estate can converse and network with each other. This can help people with finding investors and projects that will fit their budgets and needs. The reason I want to create this page is because I have seen how important it is to have trust worthy partners in this industry. My dad has several strong relationships within this industry that are based mainly on trust and transparency. This trust allows for mutually beneficial relationships. This facebook page will really help people find partners in the real estate industry. It will also allow people to bounce their ideas off people and get feedback from others with experience.

Financing...A final post

         The voice that I have created is Patches Mack. I still stand strongly behind this voice and believe in it. So far in this course I have been forced to focus on areas of my topic that I am not as comfortable with. It has really made me a more well rounded individual in the real estate market and it has increased my passion even more for this topic. I really want to stay focused on financing in the real estate industry. Weather it is someone's first home or their fifth home financing is always a huge question mark, and it is a question mark that holds a lot of people back most of the time. For me personally, I have been working with my dad my whole life in the real estate industry and not even realized how much I have learned from him. He has a full time job, and he still manages to finance not only the money for real estate projects, but also finances the time in his busy schedule. I strongly believe that people who are just graduating college, who have limited cash flow, can find ways to finance a house and prevent renting.

            I am 23 years old and it will be time for me to begin my own personal entrance into the real estate market, which will probably mean buying my first house. This does not seem to scare me like it does a lot of other people because I have been dealing in this industry my whole life and learning along the way . I can only imagine how people who don't have any experience in this field feel when they think about purchasing their own house. When I put myself in other peoples shoes who are in my similar situation I feel overwhelmed for them. It is a scary thought being tied down by a mortgage for a huge part of your life. The mortgage rates are constantly changing and depending on what kind of mortgage you are looking to take out will ultimately determine the rate that you will be paying.

            People graduating college really need to capitalize on their resources that are right there in front of them. For example, college friends and family. My brother just split the deed on a condo with another couple and was able to purchase the property up front with a low mortgage rate. It was a five year mortgage and at the end of the five years they will probably sell and go their own separate ways. This is a much more wise decision than renting because you are paying for something that will eventually be yours. Once the two couples are done paying off the condo they will then be ready to move on to the next chapter of their life and possibly have kids. They will also be much more financially stable and be able to afford a house that can be only theirs. There are so many other ways to finance projects like this if people are willing to exploit the resources that are available to them. When my brother explained to me what he was doing I thought it was a brilliant idea. He trusts the people that he split the deal with and he knows that he does not plan on having kids for at least five years so this is the perfect time for a project like this. This kind of activity gets me very enthused to start my own endeavors in the real estate industry.

            Another solid resource that people can use is their families. A lot of times parents would be more than happy to finance a real estate project with their loved ones. This means that their name goes on the deed to and is split up fairly between the two parties purchasing. This is just another way to make the burden lighter on graduates who do not have the cash on hand to purchase a house up front. Although the bank may not trust a couple of graduates, the graduates families would certainly be the opposite. I have worked along the way with my father in his real estate business and he has a number of different partners and investors that he has built strong relationships with. Often times he splits the house between three or four people, and when it is ready to be re sold the profits are evenly shared between the existing parties. This divides up the risks and helps people not feel as overwhelmed with projects like this. I saw the perfect example of using family as a resource. A family owned a house that they rented out to college kids. The dad talked with his son and said if you can keep this house rented until it is completely paid off then I will give you fifty percent of the houses value once the house is sold. The house is still rented to this day and has been ever since. This individual had the connections in the school with his friends to make sure that the house stays occupied by good tenants. This is just one example of how people can use family as a resource.

            The Patches voice was designed to educate people on the real estate market. It was created to help eliminate the doubt that a lot of people have when they are looking for a place to live. Real world examples are the best way to do this. The best way to tell people how they can finance real estate projects of their own is to show them how! Just like in this class, you are showing us how to write for social media, because showing and real practice is the best way to learn. 

Best piece to date

How to flip a home for profit

            Flipping homes is an occupation that can be practiced by all. People working full time can do this on the side, and people can even make this a full time job for themselves if they know what they are doing. Profits can be astronomical if the process is executed properly. Just follow this step by step guide on how to flip a home for profit and you may be pleasantly surprised with the profits that you generate for yourself. Another great part about flipping homes is you don't need any qualifications or educational background to do it, it can be one hundred percent self taught. Flipping homes has lead a large amount of people to financial freedom and can do the same for you.

            The first step to flipping a home is to understand the risks that come with it. Flipping a home means that you will be acquiring a large sum of debt temporarily. The plan is obviously to purchase a house below market value and make renovations increasing the value, quickly reselling that property for a profit. Once the renovations are finished and the home is ready to sell for a profit, a buyer does not always materialize as quickly as one would think. This means you may be stuck hanging on to that property for longer than expected, paying the mortgage on it and property taxes for the time period that you own it. This may force some to sell the house for a lower price than they are asking and essentially making no profit, wasting loads of time, and possibly losing money. Fully understanding these risks will make sure you reduce the risks as much as possible before you get started on the project giving yourself the highest chances for success. It will also make sure you prepare for the worst case scenario so you are not scrambling for answers if things don't go as planned.

            Once you understand the risks, it's then time to find the right location. There are three famous words in real estate which are location, location, location. Popular locations can be anywhere near the coast, a major city, or a major attraction, the best way to be sure is to do the research necessary. Use the resources at your disposal to find out all you can about a location. Looking at home values in a certain area and seeing what homes are on the market for in that area is a great way to do it. It is also important to speak to real estate agents in that location for some valuable insight on what attracts people to that area and whether or not he/she thinks flipping a home in this area is a profitable opportunity. It is best to pick a location you are familiar with already, this will save you a lot of grief. Possibly a place you have vacationed at many times before, or places you visited often growing up.

            The next task is to find a home that you think has potential! Some great resources for this assignment is looking at homes that have been foreclosed on by the bank, homes for auction at real estate auctions, and distressed properties. Often times great deals are found at all of these locations because it puts the buyer at a slight advantage over the seller. If you are lucky you will pick up a solid property for lower than market value. This is where your negotiating skills will come in to play. If the bank wants X amount of dollars for a certain property, it can't hurt to throw them a vernal offer much lower to try to reduce the price. Verbal offers do not legally bind you to buying that property which makes it a useful tool when negotiating a purchase with different sellers at a time.

            When you feel that you have found the perfect property, you need to analyze that property and crunch the numbers. This entails going through that property with a home inspector to find out what that home needs for repairs. If you have a lot of experience at flipping homes you can even do this yourself. Get a number for what the repairs will add up to costing. You will already know what you paid for the house, then you need to find out what repairs will cost, and speculate what the market value will be once renovations are finished, you will easily be able to tell if you can make a profit off the flip. Remember that your time is also a very valuable asset, when you are crunching the numbers you need to know how many hours you will spend dealing with this property during the time period of the flip, this leaves you with a daunting task of putting a value on your own time.

            Once you have crunched the numbers you need a timeline. This timeline should be the blueprint for the flip. This is one of the most important parts of the task. It should include when each repair should be done along the way, and it should include when you want the house to go back on the market. Your timeline should be very detailed and include every step along the way no matter how big or how small. If you do not finish the flip within your timeline it will mean that costs will begin to rapidly increase for the entire project which could turn in to a complete disaster.

            After the timeline is created you now need to figure out how to finance the operation. Assuming you have enough cash on hand to fund the project you will not need to find investors or assess short term mortgage rates. If you do not have the cash reserve that some are fortunate enough to have, you will need to assess short term mortgage rates to purchase the home and or find suitable investors that will expect a return on their investment. Keep in mind all of the information that you have gathered before this step will most likely need to be presented to any investor and the more detailed and well thought out your project is on paper the better chance that an investor will be willing to invest in the project.

            Once these steps are completed you are now ready to flip the house and sell. When repairs are made to the house and have met the timeline requirements you have created for yourself, the house is now ready to sell. Selling the house is not an easy task. Remember, first impressions are ever lasting. Most likely you will be left with a house that has undergone some significant changes, the house will be ready to sell but it will be empty! This means you will have to stage the house for the selling process, it is the best way to give off a good first impression and maximize value in the buyers mind. You can rent staging furniture or use other resources you have to make the house look appealing to buyers. It will be very difficult to sell a house that has nothing in it because it is tough for buyers to envision what it would look like when they bring in their own furniture and household items. Buyers need to be able to envision themselves living in this home which is difficult when it is empty. Make sure the house is clean and looks picture perfect, it will significantly increase your chances of selling it. The best way to sell is to hire a real estate agent, this will save lots of time for you and they usually have the resources to attract buyers.

            Finally enjoy the profits from the sale. If the process is done right you can set yourself up for a very nice pay day. Hard work, research, and knowledge are three key benefactors when you consider flipping a home. You may think the process ends here but it does not! the next step is to scroll back up to the top of the page and start the process again! This process can be repeated over and over again and can generate massive profits over the course of time.

Draft 2

So far in this course I have been forced to focus on areas of my topic that I am not as comfortable with. It has really made me a more well rounded individual in the real estate market and it has increased my passion even more for this topic. I really want to stay focused on financing in the real estate industry. Weather it is someone's first home or their fifth home financing is always a huge question mark, and it is a question mark that holds a lot of people back most of the time. For me personally, I have been working with my dad my whole life in the real estate industry and not even realized how much I have learned from him. He has a full time job, and he still manages to finance not only the money for real estate projects, but also finances the time in his busy schedule. I am 23 years old and it will be time for me to begin my own personal entrance into the real estate market, which will probably mean buying my first house. This does not seem to scare me like it does a lot of other people because I have been dealing in this industry my whole life and learning. I can only imagine how people who don't have any experience in this field feel when they think about purchasing their own house. People who are just graduating college, who have limited cash flow, can find ways to finance a house and prevent renting.

            People graduating college really need to capitalize on their resources that are right there in front of them. For example, college friends and family. My brother just split the deed on a condo with another couple and was able to purchase the property up front with a low mortgage rate. It was a five year mortgage and at the end of the five years they will probably sell and go their own separate ways. This is a much more wise decision than renting because you are paying for something that will eventually be yours. Once the two couples are done paying off the condo they will then be ready to move on to the next chapter of their life and possibly have kids. They will also be much more financially stable and be able to afford a house that can be only theirs. There are so many other ways to finance projects like this if people are willing to exploit the resources that are available to them.

            Another solid resource that people can use is their families. A lot of times parents would be more than happy to finance a real estate project with their loved ones. This means that their name goes on the deed to and is split up fairly between the two parties purchasing. This is just another way to make the burden lighter on graduates who do not have the cash on hand to purchase a house up front. Although the bank may not trust a couple of graduates, the graduates families would certainly be the opposite. I have worked along the way with my father in his real estate business and he has a number of different partners and investors that he has built strong relationships with. Often times he splits the house between three or four people, and when it is ready to be re sold the profits are evenly shared between the existing parties. This divides up the risks and helps people not feel as overwhelmed with projects like this.

Draft 1

            So far in this course I have been forced to focus on areas of my topic that I am not as comfortable with. It has really made me a more well rounded individual in the real estate market and it has increased my passion even more for this topic. I really want to stay focused on financing in the real estate industry. Weather it is someone's first home or their fifth home financing is always a huge question mark, and it is a question mark that holds a lot of people back most of the time. For me personally, I have been working with my dad my whole life in the real estate industry and not even realized how much I have learned from him. He has a full time job, and he still manages to finance not only the money for real estate projects, but also finances the time in his busy schedule. I am 23 years old and it will be time for me to begin my own personal entrance into the real estate market, which will probably mean buying my first house. This does not seem to scare me like it does a lot of other people because I have been dealing in this industry my whole life and learning. I can only imagine how people who don't have any experience in this field feel when they think about purchasing their own house. People who are just graduating college, who have limited cash flow, can find ways to finance a house and prevent renting.

            People graduating college really need to capitalize on their resources that are right there in front of them. For example, college friends and family. My brother just split the deed on a condo with another couple and was able to purchase the property up front with a low mortgage rate. It was a five year mortgage and at the end of the five years they will probably sell and go their own separate ways. This is a much more wise decision than renting because you are paying for something that will eventually be yours. Once the two couples are done paying off the condo they will then be ready to move on to the next chapter of their life and possibly have kids. They will also be much more financially stable and be able to afford a house that can be only theirs. There are so many other ways to finance projects like this if people are willing to exploit the resources that are available to them.

Receiving engagement

               The social media campaign that I decided to look at was the Where's Jeremy campaign by T-mobile. This is a very clever campaign that T-mobile decided to promote their new international coverage plans with.  Although it does not relate directly to real estate, the principles on how the growing conversation is affecting the world directly relate. Creating content is the easy part, getting it to spread is one of the biggest mysteries that every major corporation and business deals with on a day to day basis. How do you get leverage on your customer to get them to create positive content about your brand and co create the content that your company is putting out? The campaign is a way to spread the word about T-mobiles international coverage which is exactly what it is doing. They have implemented rewards for the person who locates Jeremy. Jeremy is located somewhere in Europe and is constantly on the move so it is not an easy task. T-mobile is constantly putting out hints to help the T-mobile community locate him.

                This is a great way to get engagement from this community, however, I do think it could be better. If T-mobile were to find a way to get more customer to customer engagement in this campaign I think it would make it twice as strong. This would make it so T-mobile users were using each other to share hints on where to find them. Essentially this is building relationships between customers, as well as relations between employees and customers. This could really help to take this campaign to the next level. This could spark organic growth for this community which could help spread this content that T-mobile has put out naturally. I believe that there is great power in engagement and it is a key principle on how conversation is affecting the world.

                For my online presence I want to use twitter. Twitter will allow me to capitalize on the power of videos, pictures, and text. It is one of the most well rounded platforms and it forces you to you specific and concise language because of the limited characters allowed in a post. For my online presence I want to look at how to finance real estate projects. I want to create a community in the real estate industry that works together and shares ideas for how they finance their personal projects. The twitter account will be videos, visuals, and informative text of past experiences that people have had in the real estate industry financing projects that have been successful and ones that have not been successful. I really want to use real world examples so that it can really give people motivation to try these different ideas. With the right plan anything is possible! Financing projects is anyone's worst fear when it comes to purchasing real estate. It scares most people away from ever even trying to invest in real estate because they are to afraid to take the risk. I want to show people with this twitter account that with the right research plan and strategy, financing real estate projects is possible.

Long term investments for dummies

Story board script

Long term investments for dummies

          Meet uncle Sam and Jack. Jack is an inexperienced in the real estate market and looks to Uncle Sam for some advice. Uncle Sam has been working in this industry for over twenty years and is a real estate buff. This story board is to provide some insight to people who are looking to buy a second home but haven't gone through the process of purchasing property in a very long time. In this case "Jack" is looking to purchase a home as a long term investment. He plans on renting it out until the house pays for itself so he can cash out on his investment for retirement.

Jack: Hey uncle Sam, do you know which way it is to the bank?

Uncle Sam: Yea its down judge street on the left, why?

Jack: I don't know, I am trying to buy a second home as an investment but it's not easy getting a loan with a good rate, and plus I haven't gone through this process in over 20 years.

Uncle Sam: Well of course it's easy to get a good rate! Have you tapped into all of the resources available to you to find other ways to finance your purchase?

Jack: What resources?

Uncle Sam: What resources?!?! You plan on purchasing a second home all by yourself without trying to find investors, partners, and other sources available to you to finance your purchase????

Jack: Uhhhhh..........yea I guess

Uncle Sam: You're insane! Before you go about this process I think you really need to do some research on what it is you want. What kind of investment are you trying to make?

Jack: I'm not sure, just an investment. I plan on renting the property out to create an extra cash flow and help pay for the property. When I retire I will be able to sell the house and use that as a source of cash for retirement.

Uncle Sam: Now you are using your head, what you're talking about is a long term investment. Which will mean you will have your hands full, it will take serious dedication to accomplish what you are trying to do.

Jack: What do you mean?

Uncle Sam: Well finding the right property in the right location that has a hot renting market is tricky. If it were easy everyone would be doing it!

Jack: Well it really isn't that complicated, Find a house and rent it, seems pretty simple to me.

Uncle Sam: HAHA!!! How do you plan on finding renters? Why would they rent from you? is renting common in the location you are buying? These are all questions you need to ask yourself while you are searching for the right place to buy.

Jack: Wow uncle Sam, those are some really good points. Tell me more about what I should expect and what I should know before I do this.

Uncle Sam: Alright kid, Meet me in my office on Thursday and we can sit down and discuss everything you will need to know about your potential long term investment.

.......2 days later

Jack: Thanks so much for meeting with me, I really appreciate it

Uncle Sam: No problem, I have been in the real estate business for over thirty years and I am always looking to help people like yourself. So let me get this straight, you are looking to make a long term investment, and you are planning on renting the property out until it is paid off.

Jack: Correct

Uncle Sam: Okay well the first thing you really need to understand is the risk that comes with this. Things don't always go as planned so you need to be ready to deal with adversity as it comes. You won't always find the perfect tenant, and sometimes your house will be empty and you won't be collecting off it, that's just the way it is.

Jack: Okay uncle Sam I understand.

Uncle Sam: Okay, you are going to need to do a some research on your own but I can give you my insight based on my own personal experiences. I take it you don't have a location picked out yet, right?

Jack: I do not, but I was thinking maybe near a city or a major attraction like a beach or ski resort.

Uncle Sam: Good, you are moving in the right direction, but you need to become far more specific. Find out exactly what it is you are looking for. If you are looking at a city you need to narrow your search down into a population. Young adults, business professionals, college students etc. A great way that I have found to be very effective is buying near a college campus and renting to college kids. They are always looking for places to live and are willing to pay the right price to make it worth it for you. Or young professionals who cannot yet afford to buy a house so they need to rent for a few years.

Jack: Okay this is starting to make a lot more sense. Like you said this is going to take some serious time and commitment.

Uncle Sam: Yes it is so you need to be ready. Once you narrow it down to the a certain renting population then you are ready to pick a location. A city, college campus, etc. A valuable resource that can help you find tenants for a fairly cheap price is real estate agents. They always take a small cut but it can save you an astronomical amount of time. A real a estate has connections in this area that can find tenants quickly and effectively, it is their job. I have been working with the same real estate agent for the past fifteen years, it is safe to say that we have a mutually beneficial relationship.

Jack: That is exactly what I will do then, no sense in wasting my time, time is very valuable.

Uncle Sam: I think it is a good idea, time is far too valuable to waste. The next step I would recommend is finding out how you are going to finance your purchase. You will need a down payment, A lot of times I like to search for investors, or partners to work with on certain projects to help split up the risk. I have has a partner that I have worked with for the past 10 years. He is a friend of mine from high school and we have buying and selling homes together for the last ten years, it is going quite well for us.

Jack: what about loans? Don't you think that is a reasonable way to finance projects like this?

Uncle Sam: Yes I do, and right now you will find some historically low rates because they economy is down right now. However, never forget that you will be paying interest on these loans. If you can scrounge up enough money from investors, and out of your own pocket to outright buy the home upfront, you will save yourself quite a bit of money. This is not always possible, so a loan could be your best bet. Once you really get going in this industry you will meet more people and understand the market better so you may not ever have to take out a loan again if you continue purchasing property for a profit.

Jack: Okay this is really starting to come together for me. What about the expenses it will cost to purchase the house? Is there a strategy you use to figure out how much it will cost to make repairs to make the house attractive to renters?

Uncle Sam: You are learning fast! This is called property analyses. Before you purchase any home you need to really do your homework on how much work it needs in repairs. The best way to learn how to do this is experience. You also need to calculate how much of your own time it is going to take to fix this property. It is not always pretty numbers when you are analyzing properties. This is also part of the risk, the property may be so much more than you bargained for. You really need to be careful and make sure you take your time when you are analyzing the house. Asking questions to the current owner is also key, ask him what needs repairs and what has been repaired in the last five years. This will help you determine what work needs to be done.

Jack: Wow this is a lot more than I bargained for, the risk is so high I am not sure if I can afford to take this risk.

Uncle Sam: Well Jack, this is something you really need to decide for yourself. If you do go through with it you need to do everything in your power to reduce the risk as much as possible, which really comes from doing your research and your homework. Remember, the most important and forgotten part of this process is to believe in yourself, have confidence that you can do it.

Jack: Okay thanks Uncle Sam I really appreciate you meeting with me, you have given me some excellent advice that I will be able to use when I am going through this process.

Uncle Sam: No problem, you have my number, so don't hesitate to call with questions along the way.

What it takes to be successful in real estate infographic

https://infogr.am/being-successful-in-real-estate-requires-the-following/

This is an info-graphic I created that gives viewers a little insight on what it takes to be successful in the real estate market.

Mastering Real Estate board game

Check out the Mastering Real Estate board game.

http://www.youtube.com/watch?v=FQ6gBbP962A

Hands on Learning

           I want to design board game that provides a hands on learning experience on how to buy and sell property in a down economy. Peoples bank accounts tend to freeze or diminish in an economy that is not doing well. They become very discouraged about purchasing property. This board game educate them to see how they can afford property in these economic times and the massive rewards that it can bring in the future. The game will be a simulation of real life and it will help people see the opportunities that a down economy presents to them. The game will simulate real life situations, incorporating an economy into the game that shifts from bad to good over the course of time. The game will solve a massive problem that a lot of people face, which is a lack of education in this area. Educating people on this subject will really high light the opportunities that I am talking about and lead people to economic freedom.

            This game will require limited funding but will call for brilliant ideas. The game will be played over the course of a week and it will force people to make decisions that they would be faced with in the real world. This game can be played by anyone who is looking to buy or sell property in their lifetime. 

Elevator pitch 2

Elevator pitch 2

My second idea is to show people that this struggling market is not just a burden, but a massive opportunity for people to start building something for the future. Most people see the economy as such a bad thing, which it is, but they dwell so much on this fact that they miss out on the opportunities that are presented in an economy like this one. I want to highlight the positives in the real estate market for people to take advantage of in the current economic times. This could offer some real benefits to a lot of people.

Elevator pitch 1

Elevator pitch 1

For my first idea, I want to create a way for people who are stuck with massive mortgages and cannot pay them some insight on how they can afford them and get them paid off. A lot of homeowners are in way over there head and see it as there is no way out for them. Being swamped with a massive mortgage in such an unstable and struggling economy is extremely difficult for a lot of people to handle. With the right mindset and knowledge on the situation it is possible for a lot of these homeowners to overcome this and move on.

Alternate Plan

               I did a little research on the criteria for getting an article published in the New York times. Interestingly enough I think that I may have a chance at qualifying if I made some changes to certain parts of my step by step instructions on how to flip a house. The guidelines that were really emphasized are relevance to your topic, and having a unique argument or point that catches the eye of the person who sorts through the thousands of articles that get sent in for publishing each day, most of which are turned down. They are also looking for news to be reflected in the article that you submit, meaning that they probably won't publish something about old news that happened in the past that people are still dwelling on.

                To qualify under these guidelines I would have to base these instructions off the current mortgage rates that are available and the current value of house in the market. Right now my instructions are to general, they would been to be more specific to the current market. I would also have to find a niche in the current market that no one else has touched on. Something that would make my points about flipping houses different than everyone else's.  My instructions would have to be based on the current real estate situation, reflect news, and have a niche about it that separates my article from the rest of the people submitting articles about the real estate industry.

                My plan to do this is to alter my current instructions and focus is on how to flip a house in the north east with unstable mortgage rates and a federal government that is not operating. This would specify a location,  reflect the current real estate industry, and bring news into it by discussing the government shut down and how it will impact this industry.  My niche (that I haven't thought of yet) would come in the instructions. I would have to provide clever insight that no one else has brought to the table. Possibly a view on this situation from a different angle or a clever solution to this difficult task. I really think the niche is the make it or break it in the readers eyes on whether or not to publish the article or not, so it needs to be strong!

                

Midterm Proposal

            I have already learned so much through this course. Through the readings and trying to express myself in blogs I have taken some not small steps, but massive steps towards communicating through interactive media.  The part that I have really enjoyed and will continue enjoying through this course is the creativity that we can use in our writing, which leads to some procrastination because we have such freedom. It really forces you to be passionate about what you are writing about which is clear in everyone's writing so far. It is so much easier to read a piece of writing in which the writer is passionate about what they are talking about versus not passionate about it.

            My persona thus far is that of a well educated adviser in the real estate field. Patches has loads of experience over the years and wishes to shower his knowledge upon his readers so they can also benefit from this industry. I would like to leave my pseudonym and  keep my blog title as is. My blog title represents precisely what I have been writing about but someone who glanced at my name for the first time would never link it with the real estate industry which I don't want them to be able to for a few reasons. When I picked the name at the beginning I didn't want it to have any relation to the real estate industry because I wanted to build that meaning myself through my writing which I think I have done and I want to continue doing. Having a name that links my writing directly to the real estate business is the easy way out! When people here my pseudonym I want them to think of the knowledge that I have provided to them through my writing and really take from the meaning that I have created. This forces me to be clear and concise in my writing and make sure that someone who knows nothing about the real estate business who is reading my writing will understand what I am talking about.

            There were several voices that I could have explored at the beginning of this course. I really wanted the voice that I went with to be something I was strongly passionate about and would be involved with for the rest of my life. Real estate is something that fascinates me and my interest in it will never die or burn low.  I also wanted a topic that is never stagnant. The real estate industry is always changing in the United States. I could continue on with this voice for the rest of my life and continue this blog for the rest of my life and never run out of things to talk about.

            My voice has evolved so much in the first half of this course because I have been pushed to explore areas that I never even knew existed! I am definitely not ready to throw this out and start on with a new one. The reason this experiment is working is because the real estate market is never stable, it is always changing. These changes are constantly sparking new interests for me in this field and always pushing me to new areas to learn about.  The most helpful thing in my case is expressing my thoughts about this industry to people that don't know anything about it. This is so critical in the real world when you go to project your voice to others. It is so important that not only people understand you, but they hear you! I want to continue taking this voice into new areas that I haven't explored in this field, for example commercial real estate.

            There are several pieces that I am going to edit and revise including my bio, wiki page, and my resume because I feel as if I am a better writer at this point in the course and can do a better job on those pieces. At the beginning of the course the freedom we had and creativity we had to use was really making me struggle because I am so use to classes that have a structure with only one way of going about the assignments. I am really enjoying the course so far and look forward to continuing on the Patches voice projecting it louder than ever in the second half of the class!

Wikipedia Entry- Influence of technology on real estate

The influence of technology has been scarcely documented because technology has taken massive steps in recent years. The impact of technology comes in so many different ways but has really come into play in the real estate business in the past seven years. Technology continues to evolve real estate and will serve as a major influence to the industry over the course of the next several years to come. It is important that buyers and sellers take into consideration these changes and plan for them in the future.

Solar technology

Solar panels have become a massive part of the real estate business in recent years especially on the west coast and states that see a large sum of sunshine. This technology has been implemented because it is so much more energy efficient. Energy prices have gone up with the price of oil and the price to energize a house in all areas had seen significant rises. Solar technology has really began to make a massive stamp on the real estate market.

The Internet

The internet is allowing people to now shop not only globally in the United States but internationally all over the world right from their home location. This is a massive change for the real estate market because years ago before the internet there was no way of doing this. This allows sellers and buyers a chance to capitalize on more opportunities more frequently because they have so many more options available to them. The proliferation of the internet is serving as a major convenience to the real estate market. Offers can now be submitted online and buyer seller communication has become much more fluid.

References

http://www.bloomberg.com/popular/

http://www.nytimes.com/

http://www.realestate.com.au/blog/inspiration-ideas/technology/

Problems and solutions

            Last week I gave step by step instructions on how to flip a house for profit. The real estate market is very unpredictable indeed. Buyers and sellers are often uncertain of the proper times to buy and sell. This is for good reason. How can anyone dealing in the real estate market be certain of anything when our own federal government cannot even make up their mind on major decisions that will effect anyone and everyone in this market.  Every week the federal government is changing its mind and going back on their words, which essentially destroys the trust between the public and its government.  One week Mr. Bernanke says he will begin decreasing bond buying slowly, the next he is stopping it all together, and the following week after that he is not touching it. These words influence the market so much. Mortgage rates, builders, buyers, and sellers, all march to the words of the federal reserve because they are looking out for their own good.

            So the real question is how do we deal with this uncertainty and lack of trust in the federal reserve's actions? Mortgage rates by historical standards are still very low, they may have seen rises recently but they are still very affordable. People need to understand that they need to work with the situation that is presented in front of them and only focus on the things that they can control. When the market struggles and mortgage rates are low people have a tendency to become very cynical and negative, losing site of massive opportunities that are in front of them. The real estate market has seen some of the lowest mortgage rates it has ever seen in recent past months. Think long term people! This is undoubtedly a time to buy and hold on to property for a longer time period. Snatch up these low mortgage rates and see it as an opportunity to become rich! This is obviously easier said than done. It does require some cash on hand to purchase a property that some people don't have. This means you have to shop within your means. Finance as many projects as you can with the low mortgage rates that are in front of you.

            This leads people to the question of how do you finance purchasing a house or multiple houses. There are a few ways that many people who are successful in the industry take advantage of. The first is renting out the properties that you own. This rent money will pay the mortgage for you, you are essentially having someone else pay your mortgage and over time this property will pay for itself. This will allow you to hold on to this property during a time where the real estate market is so unstable and unpredictable. It can also generate a profit for you if the property is in high demand to rent.

             Another way to finance projects if you may not have the cash on hand or are hesitant to obtain such a large risk at once is work with people you trust. The power in numbers is much greater than the power that one person can generate. Work with people you trust and purchase homes together by splitting up the cost between the people that are interested. This not only divides up the cost, it also drives down the risk because it will be spread out over several people and it will make this risk a lot less intimidating and manageable. If you find a core group of trust worthy people (family members, close friends) to work with, you can then start thinking bigger, purchasing properties that have more value and purchasing more properties all together. 

New Argument

          In my devil's advocate argument I touched a little bit on how the banks will react to the stoppage of stimulus tactics in the near future. I would like to discuss this a little more in depth. The banks play a massive role in the real estate market in the United States because in order for people to purchase property they need to take out loans. The higher the mortgage rates are the less inclined people are to take out a loan. The federal reserve is keeping mortgage rates low for the time being by using stimulus tactics. Mortgage rates have seen a slight increase but by historical standards they are still remarkably low.

            The way banks react to a halt on stimulus measures effects so many areas of the real estate market. Right now builders are hesitant to start on new building projects because of the uncertainty of what will happen when the government stops stimulating the banks. Buyers are also trying to snatch up low mortgage rates while they can because they are not sure that they will be able to in the near future. This could lead some buyers to purchase houses with low mortgage rates that they may not be able to afford, simply tempted by such low rates. The negative effects of people going after mortgages that they can't afford will not really be apparent until a few years down the road, but if this is the case it will have a massive negative impact on the real estate market because the banks will take a massive hit at this point.

            The uncertainty of government actions is slowly sending the real estate market into a stand still because no one knows what is really going to happen. Builders are becoming more and more hesitant to build and buyers are being tempted by these rates because they are uncertain they will remain low once the government announces their actions. The longer this uncertainty remains the more and more of a negative impact it will have for banks. It is imperative that the federal reserve's takes into consideration the negative impact that this is having on the banks and the real estate market. It would be best for the federal reserve to announce what they are doing and stick with it so the market can push towards a steady rehabilitation versus an unstable one like it is currently experiencing.

How to Instructions

How to flip a home for profit

            Flipping homes is an occupation that can be practiced by all. People working full time can do this on the side, and people can even make this a full time job for themselves if they know what they are doing. Profits can be astronomical if the process is executed properly. Just follow this step by step guide on how to flip a home for profit and you may be pleasantly surprised with the profits that you generate for yourself. Another great part about flipping homes is you don't need any qualifications or educational background to do it, it can be one hundred percent self taught. Flipping homes has lead a large amount of people to financial freedom and can do the same for you.

            The first step to flipping a home is to understand the risks that come with it. Flipping a home means that you will be acquiring a large sum of debt temporarily. The plan is obviously to purchase a house below market value and make renovations increasing the value, quickly reselling that property for a profit. Once the renovations are finished and the home is ready to sell for a profit, a buyer does not always materialize as quickly as one would think. This means you may be stuck hanging on to that property for longer than expected, paying the mortgage on it and property taxes for the time period that you own it. This may force some to sell the house for a lower price than they are asking and essentially making no profit, wasting loads of time, and possibly losing money. Fully understanding these risks will make sure you reduce the risks as much as possible before you get started on the project giving yourself the highest chances for success. It will also make sure you prepare for the worst case scenario so you are not scrambling for answers if things don't go as planned.

            Once you understand the risks, it's then time to find the right location. There are three famous words in real estate which are location, location, location. Popular locations can be anywhere near the coast, a major city, or a major attraction, the best way to be sure is to do the research necessary. Use the resources at your disposal to find out all you can about a location. Looking at home values in a certain area and seeing what homes are on the market for in that area is a great way to do it. It is also important to speak to real estate agents in that location for some valuable insight on what attracts people to that area and whether or not he/she thinks flipping a home in this area is a profitable opportunity. It is best to pick a location you are familiar with already, this will save you a lot of grief. Possibly a place you have vacationed at many times before, or places you visited often growing up.

            The next task is to find a home that you think has potential! Some great resources for this assignment is looking at homes that have been foreclosed on by the bank, homes for auction at real estate auctions, and distressed properties. Often times great deals are found at all of these locations because it puts the buyer at a slight advantage over the seller. If you are lucky you will pick up a solid property for lower than market value. This is where your negotiating skills will come in to play. If the bank wants X amount of dollars for a certain property, it can't hurt to throw them a vernal offer much lower to try to reduce the price. Verbal offers do not legally bind you to buying that property which makes it a useful tool when negotiating a purchase with different sellers at a time.

            When you feel that you have found the perfect property, you need to analyze that property and crunch the numbers. This entails going through that property with a home inspector to find out what that home needs for repairs. If you have a lot of experience at flipping homes you can even do this yourself. Get a number for what the repairs will add up to costing. You will already know what you paid for the house, then you need to find out what repairs will cost, and speculate what the market value will be once renovations are finished, you will easily be able to tell if you can make a profit off the flip. Remember that your time is also a very valuable asset, when you are crunching the numbers you need to know how many hours you will spend dealing with this property during the time period of the flip, this leaves you with a daunting task of putting a value on your own time.

            Once you have crunched the numbers you need a timeline. This timeline should be the blueprint for the flip. This is one of the most important parts of the task. It should include when each repair should be done along the way, and it should include when you want the house to go back on the market. Your timeline should be very detailed and include every step along the way no matter how big or how small. If you do not finish the flip within your timeline it will mean that costs will begin to rapidly increase for the entire project which could turn in to a complete disaster.

            After the timeline is created you now need to figure out how to finance the operation. Assuming you have enough cash on hand to fund the project you will not need to find investors or assess short term mortgage rates. If you do not have the cash reserve that some are fortunate enough to have, you will need to assess short term mortgage rates to purchase the home and or find suitable investors that will expect a return on their investment. Keep in mind all of the information that you have gathered before this step will most likely need to be presented to any investor and the more detailed and well thought out your project is on paper the better chance that an investor will be willing to invest in the project.

            Once these steps are completed you are now ready to flip the house and sell. When repairs are made to the house and have met the timeline requirements you have created for yourself, the house is now ready to sell. Selling the house is not an easy task. Remember, first impressions are ever lasting. Most likely you will be left with a house that has undergone some significant changes, the house will be ready to sell but it will be empty! This means you will have to stage the house for the selling process, it is the best way to give off a good first impression and maximize value in the buyers mind. You can rent staging furniture or use other resources you have to make the house look appealing to buyers. It will be very difficult to sell a house that has nothing in it because it is tough for buyers to envision what it would look like when they bring in their own furniture and household items. Buyers need to be able to envision themselves living in this home which is difficult when it is empty. Make sure the house is clean and looks picture perfect, it will significantly increase your chances of selling it. The best way to sell is to hire a real estate agent, this will save lots of time for you and they usually have the resources to attract buyers.

            Finally enjoy the profits from the sale. If the process is done right you can set yourself up for a very nice pay day. Hard work, research, and knowledge are three key benefactors when you consider flipping a home. You may think the process ends here but it does not! the next step is to scroll back up to the top of the page and start the process again! This process can be repeated over and over again and can generate massive profits over the course of time.

New Resume

New Resume 

Patch Adams
www.PArealestate.com
Patch Adams real estate is now a major player in the real estate business in the United States. Ranging from commercial to residential Patch Adams real estate is involved in all kinds of real estate........

Patch Adams - Wikipedia, the free encyclopedia
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Patch Adams was born on the beautiful winter morning of January 11th 1990. He grew up in a small town in New Hampshire and is best known for his success in the real estate industry. He is known for sticking true to his values and morals in both his personal and professional life.....

Patch Adams | YouTube
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Patch Adams giving excellent advice on how to flip homes while being profitable.....

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Patch Adams on values and Morals. Teaching people how to do business ethically and responsibly. He shows us in this video that there is a way to do business ethically while still making profits.....

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