This is what consumers commonly pay that generally cover all the expenses of the wholesalers, retailers, and manufacturers. When you pay retail, you are paying 100% or more for a product that you are trying to resell in the future. You also may be paying an inflated price due to intangible factors like location, good press, or poor research. If you are a serious investor, you don't ever pay retail!

Wholesale Price –

What middleman vendors and marketers usually pay. These agents can still charge a price profitable for them, yet low enough to appeal to retail sellers. Wholesale purchasers usually purchase in bulk in order to get a lower cost. In most cases, investing in a product at a wholesale price means that there is still a desire in the market for the product, and it can still generate a good profit margin for you.

Fire Sale –

This typically is the manufacturers base price that includes all costs of producing product/service. Investors view this price as a turnaround opportunity and negotiate the lowest price possible and can sometimes get below base price because of poor market conditions or devalued inventory. On the surface, fire sale prices can be attractive because they seem like a bargain. However, investors should be wary of fire sales because there may be unknown or unseen expenses associated with the purchase that will not make it a bargain.

The key to knowing the difference between any of these price variables is making sure you do enough due diligence to be able to make an intelligent decision the next time you are ready to take advantage of a "good deal". Due diligence means comparing apples with apples - matching similiar products in the same industry (stocks) or neighborhood (real estate) and making comparisons based on price.

You need to form an investment team. Find several others who, like yourself, want to own real estate as an investment. As you get to know people on your campus or through your work, you will find others who are learning about the real estate industry, how the investment process works and how best to make money as a real estate investor. When you find these people, make time to have coffee, lunch or walk neighborhoods to look at properties in your area.

Step 2

Pool your resources. As an investment team of say 8-12 principals, you'll want to take an honest assessment of each other's assets, skills, knowledge and resources. Some people will come with a little bit of cash, but experience in carpentry, plumbing or electrical work. Others will have worked in property management and yet even others will be skilled at beautifully landscaping a property. Sit down and get it all on paper all of the resources each person brings to the group.

Step 3

Make your group a formal entity. Do your research to see which type of entity is best for you. Many real estate investors choose the Limited Liability Corporation. It is inexpensive and offers the most flexibility and offers protection of your personal assets in some cases. Talk to tax and legal experts to see which is best for your group, then follow through and make it official.

Step 4

Decide which type of investment is best for your group. If all of the group members are young, single and renting apartments, maybe your group can look into buying a small apartment building, such as a four-, six- or eight-unit building that many of you could live in. Not only would you be the owners, but you'd all be living in the building, paying rent to yourselves instead of someone else. As everyone lived on the property, you could develop a plan to fix the building up so that you could sell it for a nice profit in a few years. There are many different types of real estate investments, so what will work for one group may not work as well for another.

Step 5

Find a banker. Your group, if serious about owning real estate, needs to establish a relationship with a banker who will prequalify you for a loan, tell you the most the bank will loan you and discuss rates and other charges. Finding a banker should be a process that involves interviewing three or four professionals who have come recommended from others, and then choosing one who seems to click with the group.

Step 6

Find a real estate agent. Preferably you can find an agent who is licensed to sell real estate in your area and also approved to sell HUD and foreclosures in your area. Find several to interview and then pick someone to work with exclusively. You want an agent who works hard and brings properties to you that are in line with your group's goals and understands your investment strategy.

Step 7

Find a tax professional. Once your group buys real estate, you will want to have a professional prepare your taxes. You do not each need to use the same person, but find someone knowledgeable in real estate and your type of partnership.

Step 8

Create an exit plan. Don't think that your group will always remain together. Decide from the beginning how you will handle investors who leave, or if you want to add a new investor, etc. Don't treat your partnership like a group of friends, keep it business-like, professional and get it all down in writing. You can all have a lot of fun, but make sure everyone is working off the same understanding from the beginning.

You don't have to be rich or have a trust fund in order to get started in real estate investment. You also don't have to start out alone. If you're young, working your way through college, and feel ready to get started, find a group and start on the path to earning investment income. You will need to do your homework, learn the market in your area, develop a good team and pay attention to trends and the economy.

Sometimes a house may just need a fresh coat of paint inside and out and maybe a new roof. This can be done for a few thousand dollars if you do the work yourself. The cost of repairing a home also depends on where you are located. Building material as well as other things such as food, clothing, and other items cost more in California than they do in Oklahoma so you need to know how much your materials are going to cost to determine if the house is worth the price and labor combined to fix it up. You want to know that you can still make a profit on it when it sells. It is also better to sell it as quickly as possible because the longer it takes to sell the more likely there will be other repairs to make eventually.

The good thing about buying a fixer-upper is the fact that you can fix it up anyway you like. Paint it green or purple, and while it might not be a good idea, the choice is still yours. The thing is that is you are going to resell it you should paint it a color that is popular and one that will draw attention and not look just like the neighbor's house. In the past it was reported that yellow homes sold quicker than any other color. That may be because yellow gets attention and still has a soft homey feeling to it. A soft yellow with a white trim is one great combination.

Incomplete properties tend to be much cheaper so you can afford to put a little in them and also decorate it to suit your taste. If you are going to live in the home you will want to make sure you like what you see because you are going to be there a while. You want something you are going to feel comfortable with.

Take care of your home and it will take care of you. Do the yearly maintenance on it to prevent major repair bills.

Money in Real Estate:

There is money to be made from real estate if you are aware of the tips and tricks of the trade. Do your homework, research and learn all you can BEFORE you attempt to start your journey into real estate investing/selling. Learn from the mistakes of others and you will save a lot of time and headaches. Be prepared because once you have made that bid for a property, the wheels start turning and you have to be ready so you do not lose out to someone else. The secret in buying properties is in the timing and in taking the right steps at the right time.

You can search on the internet for distressed or property that is being foreclosed upon. Some of the properties on the internet are outdated however and may not be available anymore. You can work with your local realtor and it would be a good idea to do so. The realtor can do all of the closing for you when the time comes and can give you a lot of valuable information that can be helpful to you. Realtors also have access to the most recent listings and can help you locate them, so you will be saving a lot of valuable time.

It is a good idea to get a pre-approved loan so when the time comes, you will be ready to close as soon as possible. To get a loan approval may take a week or as much as 3 or 4 weeks. Since timing is important, it is best to make sure the money is available when you need it. Pre-qualification is a very important factor to consider.

When you are ready to begin your first attempt to purchase a distressed or foreclosure property, you need to find out the value of the property to determine if there is actually money to be made on it. The value, condition, and mortgage still owed on it are factors to consider. Also the insurance, taxes, and closing costs should be added in. You may find that it is not the bargain you first thought it to be after all. It also depends on whether you can do the repairs yourself or if you will need to get a contractor to do the repairs. This can run into a considerable amount of money very quickly. Due diligence is a must so you do not end up in a deal you will regret.

Foreclosure properties can also be found in your area by going to your local recorder's office. These are usually found in the county courthouse. Make copies of all of the properties being foreclosed on. These are updated regularly so you can check back often for new listings. You can find information on the internet about comparable priced properties in the area where the property you are considering.

Yes, there is money in real estate and the secret is finding it and making the right decision and bid at the right time on the right piece of property. A quick sale is important too unless you are buying the property to live in.

Land Sales

The land industry heavily relies on real-life payments, in combination with real-life currency being converted into virtual currency. When the real-world economic situation is bearish, the land industry will inevitably need to cope with lower demand and lower land prices, as was the case during the real-life global credit crunch during 2007/2008, when land prices dropped from a peak of L$ 12 per square meter in the second quarter of 2007 to around L$ 4.40 per square meter as of May 2008. The land industry is an industry that is currently experiencing consolidation; there are more medium-sized land businesses created then ever before. This is not true for the larger land businesses, that number doesn't increase greatly, with the amount of time required to run a large land business by management being cited as one of the primary reasons for not growing a medium-sized land business into a large one.

Market Overview

In 2007, the price of land was extremely volatile, with prices between L$ 6 and L$ 12. Between 5-10% of all land was on sale on average. More virtual companies in Second Life are in the land industry than any other industry: there's very much competition, including competition from real-world companies. However, because of the drop in land prices and higher operating costs with profit margins dropping from 30-40% to 10-20%, the land business isn't as attractive to start in for new avatars as it once was. Profit margins are suffering from oversupply, volatile economic conditions and the implementation of a new rule by Linden Lab, Second Life's creator, resulting in European residents having to pay VAT when conducting business with Linden Lab.

As European VAT can be as high as 15-20%, virtual land businesses whose owner is based in Europe now have much lower profit margins than the owners of land businesses based elsewhere. When this tax policy was first implemented, the value of land declined rapidly due to European land owners going out of business who put their land on sale. Smaller land businesses disappear, merge with other land businesses or are bought by (larger) players, who are able to survive better in the long run due to their pricing power and resources.

Business Models

There are several business models in this sector of the land industry: Clean areas, with no objects provided by the sim owner. This is the oldest model in virtual worlds, and, while still popular, proves to be too old for new areas (sims) more and more. The profit margin for avatars can be high, but selling clean areas is much more difficult than selling land via other business models if there is oversupply. Instead of clean sims without objects provided by the sim owner, sims with objects provided by the sim owner, such as roads, subways, trams, buses and ATMs are providing very popular at the moment. This model is especially very attractive for businesses and people with an above-average virtual income who'd like a more realistic neighbourhood or a premium location for their home or business. Another, newer, business model in land sales are private islands.

This business model consists of a sim essentially being a water sim with small islands. These small islands prove to be popular with more affluent avatars wanting a bit more privacy. This seems to be a large market with a lot of opportunities, but without the competition of real-world companies, since most cannot afford to custom-design a small island for a customer at the moment. Smaller and medium-sized virtual companies can do this, and it seems to be a good and sustaining business model, with profit possibilities of 25-30%, mostly dependent on the size of the islands and the look of the island and the environment near the island. It also depends on the objects provided by the land lord - if any objects are provided at all.

More Info

The land business. You can begin small and eventually buy a sim from Linden Lab for thousands of real-world US dollars, but be aware of the competition before starting in this industry. Also, watch the average land price very, very carefully. Sometimes, renting out land is a better option. Lots of people lost a lot of money in the virtual land business lately, but if you use a unique, innovative or one of the newer business models and are willing to invest money and time into a land business, it certainly is still possible to take advantage of the current growth of virtual worlds.

Okay, so in my first story. I admittedly was being nosy, a neighbor had put their large old Victorian style home for sale and I wanted to check out the inside. Well, I can honestly say I was disappointed, not just because the interior had been poorly decorated but also because of the mess. I have pets, I love pets, however even I noticed the huge stink from their pets. They had several Guinea Pigs and none of the cages were clean. I could smell the cat litter throughout the house. One of the kids bed rooms had nude posters all over the walls. Kids toys and junk was every where. Worst of all though, was an over flowing diaper pail, full of dirty diapers. I was surprised the real estate agent had even allowed them to show the house in this condition, in fact I believe they should have canceled the Open House.

In my second, and most unbelievable encounter, was when I was went to an Open house held by the realator selling his own home. You would think the place would have been immaculate, but you would be wrong. In fact it was so bad, I actually phoned the Real Estate office to complain about it the following Monday. The yard was messy, there was broken lattice work laying in the yard. Not small lattice, it was a big 4 foot x 8 foot piece, less the broken bits. The front porch was filthy. The Television was on, and there were cats and dogs everywhere. I recall vividly the little Sheltie dog getting hit when we walked in because it had urinated on the carpet. I remember this so clearly because it was hit when we made a comment about stepping in the wet spot, as we were accustomed to removing our shoes at the front door when entering homes. A big mistake in this case. There was dirt on the carpet as well, they immediately referred to their cat as doing this, by tipping over a plant. I don't know when the plant was tipped over, but obviously nobody was going to bother cleaning up the dirt. The dog was put out in the yard.

We proceeded to look around the house. The place was a mess, nothing was clean. It was obviously a bachelor pad.

Now you have to realize the realator who owned the home was there and following us around somewhat. This was for a reason as it turned out. We were about to enter one room which had the door closed, at this time he spoke up to inform us "Oh there is somebody sleeping in there, so open the door quietly." We did, it was obviously his bedroom, and the person in the bed (with the sheets pulled part way down I might add) was obviously some girl he had brought home from the bar the night before. He had told us that she was there with absolutely no shame at all. Fine if you don't want to feel bad about bringing home a girl, but to think it acceptable that she was still in bed half naked during an Open House was a bit odd. This was two o'clock in the afternoon. That was pretty much the tip of it all, we couldn't believe it.

The final tale is not about one occasion but several smaller examples of some poor Open Houses. On one it was obviously some important day in sports, Hockey if I recall. The realtor sat in front of the wide screen television the whole time, glued to the game. I suggest that you never schedule Open Houses on the day of a sporting event, or at least select a realator who is not into sports so much he cannot do his job. Inattentive agents are almost as bad as when home owners have their own Open Houses and follow you everywhere. If they are nervous about their valuables going missing, they should not have them in plain view.

I also remember one very smelly house. No, it was not pet odors, this person practically sprayed two or three bottles of air fresheners throughout their home. It really stunk. I am not overly sensitive to smells, but I know a lot of people are, or have allergies. I also know that many people use these air fresheners themselves and have become "immune" to their scent, so probably this home owner was not even aware of how potent their house had become. It was nasty.

One other time we went a house for sale and there were loads of naked women posters in the garage. It was obviously a workshop, but not only where the posters huge, the women were too. I am not a prude but when you have families looking to buy a home, you don't want to greet them with big naked women. Oh, did I mention we had to enter this particular home by walking through the garage?

The final story is brief but not actually about an Open House. Somebody I knew was going to put their house on the market, but the outside looked terrible as the paint had been badly pealing for years. So the realator had instructed them to paint the house before listing it. The house had been white and, I think, blue, but for some crazy reason they painted it two tone pink. Bright pink, and brighter pink. Maybe the paint was on sale, I don't know, but that was not a good way to sell a house.

In 2007, interest rates began an upward creep and home appreciation is slowing. This gives landlords the upper hand and they are raising rents all over the United States! In 2007, the real estate market changed from a seller's market to a buyer's market. For these reasons if you are a renter who is tired of high rents, then now may be a good time to take a serious look at homeownership.

Ideally, buying your first home should be a decision that you make regardless of what the market is doing. Do not jump into homeownership just because sellers are offering incentives and the interest rates are still fairly low. No one in real estate can know for a certainty what will happen in the next few months or the next year. Approach the problem as if it were an important business decision. Never buy on emotion or because all your college friends are buying homes and you feel left out. Wait until it makes sense for your finances. Before you decide to buy there are several things you must take car of ahead of time.

Create a budget and stick to it for at least a year.

Owning your new home comes with a lot of expenses you do not have when renting. Money management skills are a must. Before you decide to buy, check out the home prices in the area you want to move and calculate the average prices of homes in that area. Most real estate sites have a payment calculator can provide this information. Once you estimate your mortgage payment then add in utility payments, homeowner's insurance, property taxes, and higher commuting costs if you are going to be farther away from your job. If you cannot afford the increased expenses, it is definitely not a good time to buy.

A reliable source of income is necessary

Buying a home is a long-term financial commitment. A consistent cash flow to cover your monthly expenses is a must. If you are now in school, plan to return to school, have a small child, or plan to have children, you will need to look at your future earning potential. For example, if a couple can afford a house when both are working and a baby comes along and one has to quit their job, they are in trouble.

Have emergency cash held in reserve

Putting sufficient cash away in a savings account is something many people neglect. It is wise to have 3-6 months of cash in reserve in case of a lay-off, a serious illness or a natural disaster. With a reserve of cash, the pressure will be off until you can return to work. A cash reserve will ensure that you will not lose the home you worked so hard to get.

Your credit report must be in good condition

While you don't have to have perfect credit to buy a home, the higher your credit rating, the lower your interest rate will be and the lower your mortgage payments. It is a good idea to work on cleaning up your credit before you buy. For at least two years before you buy, do not make the mistake of missing payments or have any other black marks on your report. You want to look good for lenders. Even if you have older negative aspects, if you show good tendencies for two years prior to buying, you are likely to get a loan with a lower interest rate.

You must have your debt under control

If you have any outstanding debts, it is a really good idea to get them paid off before decided to buy. Lenders look at your debt-to-income ratio to determine if you qualify for a loan. Your total payments, including your new mortgage payment, should not equal more than 38% of your total gross income.

Buying a home is a long term commitment

Are you ready to stay in one place for 3-5 years? Typically, that is how long you will have to keep the home to recoup your buying and selling costs. Selling before then means you will likely loose money. Keep in mind, if you have lived in your new home for less than two years and you make a profit when you sell it, you will have to pay capital gains tax.

The folks at Nancy Chandler Associates, REALTORS, Licensed in Norfolk, Virginia, can help you with every step of your home buying process, including helping you determine if it really is the right time for you to buy.

The six methods to focus on for an efficient marketing campaign include: personal contact, business cards, advertising, sponsorship, give-aways, and a monthly newsletter.

1. The first aspect to a successful real estate career in the first few months is to make yourself known personally to the community by making sure that you tell everybody you know that you are now in the real estate business and if they ever need your service, that you are available at any time. Starting with family and friends would be the first step in establishing personal contact and then word of mouth from those people you already know will be an excellent stepping stone. Sporting and community activities that you are involved in would be another form of personal contact where by you tell everyone in those set ups that real estate is your new career. Again, word of mouth from these establishments will help you greatly.
2. When talking to these people in the establishments described above; if you have a business card available with your contact details, then when these people are ready for your service, they have easy access to contacting you. Business cards would also be good for leaving in information centres, dairies and other retail outlets for customers to pick up when they are needed. If it is possible for you to hand out as many of these as possible, people have to remember you when the time comes for buying or selling a property.
3. Advertising yourself and your services for the property market is another excellent way of establishing yourself. Local newspapers are a great way to get your face and services available around, and doing this on a consistent basis will be of value. Other advertising techniques used could be flyers in letter boxes, radio advertisements, signage, and school and community or club newsletters. Just keeping yourself in the back of peoples minds is of great benefit.
4. The local primary school is running a fair or other fundraising venture and this would be the perfect time for you to provide sponsorship for these types of local events. Sporting clubs and organisations are always looking for some sort of sponsorship and by having your name as a sponsor ensures that you are seen and heard by the spectators and participants in these set ups. By sponsoring these types of events, your persona is proven to be a caring and trustworthy community member, here by leading people to think of you when they need someone to deal with their property.
5. At events like school fairs or community events, give-aways are a good idea also so that your face is seen when potential clients go home and stick their magnet on the fridge, their calendar on the wall, or use their note pad to jot down phone numbers. Just posting these in the mail or dropping them in letter boxes will be appreciated by the community. The feeling of getting something free that is usable can go a long way for a potential client.
6. Finally, a monthly newsletter sent out in the mail or dropped in letter boxes, along with your free gift, outlining all the open homes, properties and services you have available, will keep your clients and other community members up to date with what you have to offer. Contact details and photos of properties available should be something that is included within this newsletter.

By combining all of these methods and others not mentioned like open homes and door knocking, you will have the support of the local community and your name will be the first that comes to mind when a client decides to buy or sell a property.

At the point in time that an agent and home owner agree on the list price, Price is definitely king. If the price range is in line with the comps then you're on your way to a successful sale.

Next, when a property presentation specialist (Stager) and an inspector advises the home owner of any and all condition issues that must be addressed and action is taken by the owner, at that point Condition is King.

Then when the home owner or agent has the home staged to increase the marketability of that home, Property presentation or Staging is at that point the King.

So it would appear to me that there are really three Kings. Three Kings that when working in unison, increases the marketability of a home to move it ahead of the competition. In an effort to have the quickest and most profitable sale for any home with-in its price range, all three Kings have to be in place and in alignment. An absence of any one of the Kings would seem to reduce the speed and profitability of a successful sale.

So why do we attempt to debate who the one and only king really is? Well, I think it's all about marketing the value of what we each provide. If any one of the three, Price, Condition or Presentation is proclaimed the undisputed King, that King becomes all important in the Real Estate world. Being the undisputed King gives us ultimate power in our world and we can then sell the fact that in the absence of me, the King, the kingdom would crumble.

So why three Kings? The price King has always been good enough! People never use to care about anything but the price! Well, as Bob Dylan sang, "The times they are a changing!"

My belief is that homes have historically sold based on these same three factors. But with everything being equal, price was the defining ingredient. As time has passed, experts, professionals if you will in the areas of property presentation and condition have been added to the mix which is re-defining what being competitive means. In the busy world we live in there is a value placed on being able to buy a new home, one that fulfills all of our desires and then instantly we can get back to our hectic lives. A home that does that is ultimately the most competitive. In many arenas this debate has become parallel to a heavy weight boxing match. It's time to unify the title.

Predicting our future, I see the time coming that there will be two ways to dictate the destiny in the successful sell of a home. Either by being lucky or by being good. Sometimes it's better to be lucky than it is to be good, but it's a big risk to count on luck for success. Being good is by accepting that all three Kings play a unified role in the success and that luck is for those lucky few that win lotteries. Do you feel lucky? Well do you?

• Spruce up your curb appeal. Before potential buyers see your home they see your yard. The first impression starts where the grass meets the pavement. Buyers notice your outside before deciding to set an appointment to look inside. Updating your landscaping can really make a big difference. Making your lawn look neat and attractive is an inexpensive way to add curb appeal.
• Remove any clutter from your yard. Make sure weeds are gone and the lawn has been cut. Adding a few colorful potted plants or flowers can be a nice touch to make your home appear more inviting as well.
• Check your closets and entrance ways. Closets can make a good or bad impression to potential buyers. Everyone wants a spacious closet. If your closet is overflowing to the brim with your personal items buyers will think the space is not big enough. It is crucial to clear out your closets. This includes the bedroom closets, hall closets, and the children's closets.
• Every closet should be clutter-free, neat, and contain only a few items. It is important to have the house cleared out with only the bare essentials.The key is to get your home looking as new as possible.
• Make sure your door is in good shape and add plants or a rug to make a good impression. The entrance way is a positive feature in your home.
• Transform your home to appeal to the masses. Many homeowners have difficulty when it comes to this step. Although you may love the yellow or red colored walls in your home others may not. Remember, you are in the process of selling it is no longer your home.
• Paint rooms with neutral light colors especially in the bedroom and bathroom. You must clear out personal items and trinkets.
• Your personal heirlooms may be special to you but many potential buyers will view it as junk. It detracts from showcasing the home. It is important that buyers focus on the home and not your personal stuff.
• The key to selling your home is to make it as clean and spacious as possible. Your home should be cleaned throughly. The kitchen and bathrooms should be spotless. To give your home a more spacious appearance you should clear out any bulky furniture or items. The more room the potential buyer sees the better they will feel about purchasing your home.
• Highlight your interior features through lighting. Open drapes and invest in powerful light bulbs to give your home sufficient lighting. The illumination of your home will make the design and flooring stand out.

Before you start buying Moon Land, read my article: Alternative Investments: 5 good reasons NOT to buy Land on the Moon