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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label central florida. Show all posts
Showing posts with label central florida. Show all posts

November 23, 2016

The Worst Advice About Real Estate I've Ever Received

Hi Friends and Fellow Investors,

   They say it's good to dwell on the positive things in life, but sometimes, it's healthy to hop over to the dark-side for a bit and reflect on some of the wacky (but with good intentions) advice I've received over the years regarding Real Estate, from buying to selling to investing. I'll share some of these events chronologically so you can appreciate the time and setting in which I was the recipient of these tidbits of advice.

   Well, a little over 20 years ago, my aunt and uncle used to come over to my apartment at the time a couple of times per week, and they always found me going over the Real Estate section looking for properties. They said I probably spend too much time rsearching and seeing properties. At one point, my Aunt suggested that I should focus on work and just slow down and enjoy life. Why was that bad advice? "Slow down" is the opposite of what a 22-year old should be doing, and "enjoyment" of life is different in every person's own eyes. I worked hard through college and graduated with the equivelant of a 90-degree average to earn my Bachelors Degree. I studied ridiculous hours (ADHD - you have to really cram the information in there!), but wow, did I party, as well! I managed to work during school and sock away some good money, and just had my first home under a Rent to Own Contract, and it was addictive. So, the breaking news on that advice they gave me is that I was very proud of my achievements in school and my initial step into Real Estate Investing. Now, fast forward, and they are now aware that my days of reading the Real Estate section of the newspaper (Pre-Internet "Stone Age" Days) have led me on the path I am on. That little "hobby" of mine has been working out pretty darn good. I make sure to bring up the Real Estate market whenever I see them, as it puts a happy smile on my face. You see that? Real Estate does bring smiles!

   During the early 90's, I had been evaluating some developments in Central Florida. I had conflicting advice from some fellow investors. I was warned by some as if I was to avoid the bubonic plague to not throw a single penny into these developments. Of course, I did not heed that advice. Good thing, because a simple investment of $2050 became an equity stake of $35,000 by the mid 90's, and I cashed out. Listen to your little voice inside.

   During that same time, I did take bad advice two times, and paid the price for it. The first time, I was advised by two investors who followed the New England market very closely via publications that they ordered in those pre-Internet times. They told me to put everything behind a property in Connecticut, so I invested. As it turns out, somebody missed out that there was a toxic waste/Sewage treatment plan not far away, and the smell kept people from buying in. The place folded and the wrecking ball came in, and I kissed my investment goodbye. Needless to say, I phased out those two woodpecker investors from my circle!

   The second time, I had my eyes on a promising piece of land in Maine, in a sectio I was not at all familiar with, but the property adjacent and surrounding tripled in value over 4 years. I needed to get in touch with some local investors, and I made contact with a friend of a friend, and this fella was like a book of everything in that section of Maine. My funds were ready to invest and I was excited. He was so dead-set against this property, saying it was rocky and hard to develop, and showed me a letter from the County actually asking him to invest in it, along with his polite letter of proposal rejection he sent to them in reply. He seemed reasonable in his arguments against the property. Fast forward all of these years, and I am still quite upset with myself for that bad advice, because I missed out on a hotel and a strip-mall, and a price appreciation of more than 25x my would-be invesment! Oddly, I lost "Mr. Maine's" phone number. It's still a mystery today as to how I could have lost it.

   So, as you can see, I dodged some bullets, but got caught between the eyes with some others. I remember a friend in the industry warning me not long ago about investing in too many different states. He failed to realize that to ignore hot properties that you have people on the ground you trust to manage it for you is akin to business suicide. Locking yourself into just one market is like putting all of your money on a winning horse. Once he breaks a leg, then what?!

   Overall, as I said in the beginning, all of this advice was done with good intentions, but still, that was just some of the worst advice I've ever received about Real Estate.

   FYI, more Epson hardware is on it's way for me to review and share with the many of you who have been quite consistent in your requests. Thanks for your patience.

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Happy Thanksgiving!
Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes - Rent to Own Homes, since 2002
"Located at the Corner of Technology and Real Estate"
Rent to Own Homes and Real Estate Blog for HomeRun Homes: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com


TAGS: #realestate #maine #florida #investment #advice #newengland #developments #centralflorida #realestateinvesting

September 10, 2010

Florida Snowbirds and Florida Real Estate

Hi All,

   Hard to believe that it is Friday, but that's what happens when you have the "short week". Fall is in the air, and somewhere out there, there is a huge pumpkin with my name on it!

   I wanted to share a great new article in which we have had a nice write-up, and it is titled, "FLORIDA REAL ESTATE: Numbers are right for snowbird buyers", written by Janet Groene for Forever Young News (a "50-Plus" lifestyle magazine).

   The excerpt that mentions us is as follows:

"If you don’t yet own a winter place and want to try several before you buy, look into a rent-to-own situation. An international group, Lease2Buy.com, puts prospective buyers in homes that are for sale, then gives them the option to buy after an agreed period. Robert Eisenstein of HomeRun Homes in Lake Ronkonkoma, NY can work with northerners who want a rent-to-own winter home situation in the sunbelt.", and, "He observes, “Central Florida has been beaten down and is prime for a comeback. The Miami-Dade market seems fickle to us but we are seeing tons of requests so there is definitely some play there as well.”
   We are always glad to give our opinion on different markets across the country, since our website stats tell us where the homes and/or the buyers are, where prices are trending, and more.

   By the way...have YOU placed your Home on our website yet (VISIT THIS LINK TO DO IT NOW) ? Have YOU placed your Request for a Home on our website yet (VISIT THIS LINK TO DO IT NOW) ?

Have a Great Weekend, and Happy Rent-to-Owning !!

June 25, 2010

Rent-to-Own Transactions Move into Mainstream

Hi Everyone,

Hope you are all having a great week. We are extremely pleased to share with you an article that was done on Rent to Own by a major, authoritative website, American-apartment-owners-association.org.

The article, titled, "Rent-to-Own Transactions Move into Mainstream" (http://www.american-apartment-owners-association.org/blog/2010/06/24/rent-to-own-transactions-move-into-mainstream/), provides HomeRun Homes some fantastic publicity, and it describes HomeRun Homes as, "a highly-ranked online classifieds service matching properties to buyers/tenants".

Within the context of the article, they quoted me when I discussed some of the best markets for Rent to Own (also called Lease Options or Lease Purchase), as Atlanta, Central Florida, North Carolina, California and Chicago, because, "...of the severe decline in home prices in those areas, coupled with a rough economy that poses credit hardships on many buyers".

I was also quoted as saying, "Rent-to-own gives investors a creative option when dealing with slow-moving or distressed properties", and, “At least you know you have someone in the property who wants to be there."

Kudos to that great website for spreading the word about Rent to Own Homes.

We will be checking back in with you on the housing numbers of this week gone-by.

Have a Great Day, and Happy Rent-to-Owning !