Women Get Wealthy

I'm not sure I love the term, 'Vulture' (smart investor, maybe), but Tanya Machiol's approach to investing makes a lot of sense in today's market.  Real Estate does, and always has, operate on a Property Cycle.  As the market changes, so must your investment strategy. 

"These investors are known to many as vultures because they swoop in and buy "distressed properties" -- foreclosesures and short sales -- cheap.  Places like Las Vegas, Phoenix and Miami are popular because home prices there have dropped as much as 70%."

I think some might be surprised how many opportunities exist in the majority of markets (not just Vegas, Miami, etc.) throughout the United States.  We are currently investing in Philadelphia, where prices are said to be 'holding strong'.  While this is true, underneath it all, there are great deals to be had.  You need to know where to look and network in the right circles but these opportunities are absolutely out there.

"Marchiol, for example, does not even factor in home price appreciation for at least a year.  After that, she calculates only a 3% annual increase -- a return that won't turn heads of investors who only want to buy low and sell high."

This is extremely wise and we apply a very similar formula to our own investment properties. Tanya's approach here is my absolute favorite type of real estate investing - long term, wealth creation.  If you think this market is going to bounce back overnight, think again, but if you are looking to create true wealth, with relatively low risk, this strategy is as sound as any.

For more about Tanya's real estate investing experience, read here.......

http://money.cnn.com/2010/08/02/real_estate/new_vulture_investing/index.htm

Julie Hall had an entrepreneurial awakening when she was 28 and never looked back.  "Sitting at my corporate desk, I had this crazy idea: If I was going to work this hard for them, I might as well work that hard for myself".

Every day approximately forty-eight hundred baby boomers become middle-aged orphans when their elderly parents pass away, leaving behind a lot more than just memories.  Now what?

Julie has become an expert in an industry which will always be relevant.  She assists families, who have recently lost their loved ones, in resolving the matters of estate.  Often heirs no longer live close by or perhaps they are simply too busy or overwhelmed to deal with the estate themselves.  Having been through the estate settlement process before, I can say first hand that it is not an easy task - particularly given the emotion involved.  Having a knowledgeable resource to assist in the process would certainly be worthwhile.

I would have to imagine - given the natual population growth - that this type of service would be in demand almost ANYWHERE.  Julie's site provides some insight on how one can become a 'liquidator'.  In addition, she has written a book on the subject. 

Another great example of a woman with a fantastic entrepreneurial spirit!  Some outstanding advice in these links:

http://www.womenentrepreneur.com/2010/07/making-the-most-of-a-crazy-idea.html

http://www.theestatelady.com

Purchased on March 2, 2010 for $110,000, 238 Gerritt street has undergone a complete rehab and is now under contact for $209,000.  The rehab took roughly 11 weeks and the total cost was $46,000.  The interior was completely gutted and the exterior has a new brick front. 

Closing is to occur within 45 days.

After all expenses (rehab, closing costs, realtor fees, insurance, etc.), the total profit will be approximately $28,000.

While the construction was underway, we were approached by a family who owns a property a few houses down, on the same block.  Their mother had passed and they were looking to sell the home.  We agreed to a purchase price of $105,000 and construction on that property is now in progress!

As we have all heard by now, the current economy is finding all sorts of people without a job.  I know numerous people who have either already received notice or are feeling like the news is likely coming any day.  It is a terrible position to be in, unless you are prepared with a back-up plan.  In many cases, although it may seem like the end of the world, it could also be an opportunity to try something completely new.  If you are fortunate enough to get a severance package, the level of risk may even be significantly lower, considering you will have some level of buffer.

Tina Aldatz is a perfect example of someone who took a job loss, turned it into an opportunity and ran with it.  She gave herself a strict timeline (6 months) and was determined to make it work.

“The first year, Foot Petals' revenue totaled $60,000. The second year it was $600,000. Today, nine years later, Foot Petals is a $10 million company with 17 employees and three offices. It offers a collection of foot cushions and accessories, including the recently introduced Sporty Soles for athletic shoes."

http://www.womenentrepreneur.com/2010/05/entrepreneur-vanquishes-obstacles-with-wit-and-grit.html