IBB In the News
How to Make Money in Real Estate — 25 Ideas from the Pros
If you want to learn how to make money in real estate, go to your nearest McDonalds.
Yes, the fries are more addictive than heroin, but you may be surprised to learn that the land they’re made on is far more important to the company than their french fry recipe. In fact, real estate is such a crucial part of McDonald’s bottom line that founder Ray Kroc famously quipped that he was in the real estate business, not the burger business.
In order to get you inspired enough to start your own real estate empire sans amazing french fries, we interviewed 25 CEOs, investors, brokers, and tech gurus to see how they are making money in real estate. If you want to borrow from their wisdom, read on.
Final Walk Through Checklist — The Ultimate Guide
For everyone involved in the sale of a home the final walk through can be a nerve wracking experience. Fresh damages or faulty repairs discovered at the walk through can undo months of hard work This is why a good final walk through checklist is so crucial.
We put together this comprehensive final walk through checklist to ensure that your final walk throughs go as smoothly as possible.
Upon Further Inspection…
There’s a natural tendency for investors to think more like home appraisers than home inspectors when evaluating a property, and it makes sense—you need to know how much you can expect to sell for when the time comes.
But you can miss issues that affect your bottom line when you don’t think like a home inspector. These seven tips can get you in the right mind-set and potentially save you thousands of dollars in costly repairs after you make your purchase.
How To Become a Home Inspector
With an average salary of over $70,000 and a flexible schedule, home inspection can be a great career option for anyone. This is especially true for people with construction knowledge who want to own their own business or anyone who wants a fulfilling and well-paid career in real estate. In this guide, you’ll learn everything you need to know to become a home inspector. Let’s get started.
Home Inspection Deal Breakers
There are few guarantees in life, but a home inspection report turning up “issues” with your new house is probably one of them. Sometimes the notes on a home inspection report are minor (like a blown-out light bulb), while others are major (such as a bad foundation or a leaky roof). But when you’re buying or selling a home, the major issues are the ones to focus on, as they can curb an entire home sale. Both buyers and sellers should be wise to the “big deal” problems below and knowledgeable about what to do if something like them is revealed in your inspection.
5 Home Features First-Time Buyers Need to Consider
If you’ve watched any of the house-hunting or home repair shows, you know how exciting and stressful buying and owning a home can be. For first-time homebuyers, that excitement and stress can be especially high. It’s easy to dream about the beautiful kitchen and the spacious backyard for hosting parties, but there are also unplanned and costly home repairs to take into consideration.
15 Entrepreneurs Explain How They Came Up With Their Business Name
The idea of exactly what your business is going to be usually comes first. Secondly, most often, is giving a title to your idea. What exactly is going to be the name of your business? Some people turn to their childhood for inspiration or a beloved family pet. It could be a made up word you dream of one night and feel it has the right ring to it. Even still there are some people who study foreign words for the perfect meaning behind their chosen business. Whatever the inspiration or relation may be, the naming of your business is one of the most important parts of becoming a CEO. Having a brand behind a strong title can make all the difference in the world.
Home Horrors: Lessons from Home Inspectors (MSN.com)
“So what if the electrical worked then — it’s not adequate today”
A common refrain among home sellers — and, later, buyers — is, “It works great.” But not only are some items approaching the end of their life span, some are not equipped to meet current needs. Outdated electrical panels fit this category. Bob Sisson, a home inspector in Maryland, constantly sees electrical panels that simply can’t handle the juice of a modern home. Read the full article on MSN.com
ICC provides answers (ASHI Reporter)
Bob Sisson, Inspections by Bob, Boyds, Md., recommends using the International Code Council (ICC) as a resource, and provides the following example of how ICC helped him.
The ASHI Certified Inspector was questioned by a builder about the improper bundling of wires he reported during a pre-drywall inspection. Because he is an ICC member, he was able to request an interpretation.
Hazards in the Home (The Washington Times)
In a new study sponsored by the Home Safety Council and New York-based GarageTek, 33 percent of respondents said a garage-related injury had occurred in their homes, and nearly 60 percent of all garage users said they didn’t dwell on the safety hazards in their garages. The findings paint only a partial picture of the possible dangers existing in seemingly tranquil homes. Bob Sisson, who runs Inspections by Bob in Boyds, says undetectable wiring hazards often lurk under the kitchen sink.