#melvin feller real estate investor

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Melvin Feller MA Examines the Best Real Estate Investing Deal Strategies

Melvin Feller MA Examines the Best Real Estate Investing Deal Strategies

  Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skillset for success.  This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life.  Melvin Feller is currently pursuing another graduate degree as an MBA.

    Because deal finding IS so crucial to one’s investing success, I recently decided to look back and see which methods have generated the most deals and the best deals for me. In reviewing the 150 properties I have bought or flipped over the last 5 years, I was surprised to find that many of the "traditional" sources of great deals have not worked for me, while some less obvious methods have been great lead generators. I would like to share with you the results of my little inventory.

   Good: The Multiple Listing Service. The MLS is essentially a catalog of all the properties listed for sale by brokers. Some of them are good deals for investors, and some are not. The trick is to ferret out which properties have motivated sellers without making offers on all of them. I have honed this skill through years of translating agent lingo like, "Handyman's special" (looks bad, smells bad, has at least one major system that does not function), "needs TLC" (ugly, but not smelly, and everything works).

  Why it works: Properties listed in the MLS are for sale. This may seem like an obvious statement, but some of the other methods touted as great ways to find deals involve locating owners, then finding out if they want to sell. Properties in the MLS also have the advantage that all of the information about the property is pretty much laid out for you - a major time saver. In addition, with the sophisticated, computerized access available to your agent, it is a matter of a few keystrokes to view all of the properties that are handyman's specials, or bank-owned, or in estate, or priced under a certain dollar figure - whatever you’d like to concentrate on.

  Another reasons that the MLS has worked so well for me is that I am generally in the market for ugly properties. Coincidentally, these are the same properties that most agents prefer not to spend a lot of time with. In many cases, they are downright cooperative - particularly when I'm offering all cash and a quick closing.

  Bad: Direct mail to real estate agents. Last year, I had the brilliant idea that I might be able to find MLS-listed properties even faster if I simply let agents know what I was looking for. Therefore, I purchased 1,200 agent names from the Board of Realtors and generated a 3-part mailing send to every agent in town.

 The theme of this campaign was this: if you, Ms. Agent, have a property listed that fits my criteria, I’ll make an offer and you get to keep the entire commission. Out rolled my brilliant campaign -all mailed first class, incidentally - and in came the phone calls. All seven of them. That is right. The week after the first letters went out, I received seven calls. We had already made offers on three of the properties; two were out of our price range; and two were overpriced listings about to expire.

  The next mailing generated even more results - about 15 calls - all in the same categories. The final mailing, a postcard, received no notice at all. I wasted about $1400 on a campaign that generated absolutely nothing.

   What went wrong: I still think that this idea has some merit, but if I do it again, I will make some major changes. First, I will target only the 200 or so agents who list the types of properties I buy. Second, I will do a better job of writing the letters, emphasizing how the agent and his seller would benefit from working with me. Third, I will make my campaign a continuous one throughout the year, testing different letters for response and mailing the best to the same agents repeatedly. Lastly, I will personalize the campaign by following up with a phone call to the 50 or so best prospects. Oh well, live and learn.

   Good: Ads in the Yellow Pages. For 18 years, I have had an ad in the "real estate" section of the Yellow Pages. Each year, the ad has had some variation of the wording, "I buy houses - all cash”. This ad only generates 3-4 calls a month, but for some reason the quality of the calls is better than those that are generated by any other method I have ever used. The sellers tend to be motivated, cooperative, and have unlisted properties.

  Why it is worked for me: I love that you deal with these ads once a year, and then forget them. While they are pricey - up to $3500 per year - the phone company will generally bill you monthly for the cost. In addition, as one of the very few ads in the phonebook that promise to buy houses, I do not have much competition.

 Bad: Advertised FSBOs. Properties for Sale By Owner, a.k.a. FSBOs, are a favorite for some real estate investors. I, on the other hand, have never purchased a property from an owner who advertised his property for sale rather than calling me.

  I have found several problems with trying to buy FSBOs. The first is that some are not actually for sale. Some FSBOs are just “testing the market to see what kind of offer’s he’ll get. Other FSBO sellers are very motivated to sell, but do not list because they want to keep all of the money from the sale. They do not want to pay a commission - but they do not want to take a lower price, either. In addition, sometimes a seller chooses to try to sell their property by themselves because they owe too much to pay a 5%-7% commission, even if he sells it at full price.

  If you are buying expensive homes creatively, these sellers are ripe for the kind of solution you offer. My strategy is to buy ugly houses cheaply and for cash, and I just do not find this type of deal in advertised FSBOs.

 Good: Flyers to Targeted Neighborhoods. Last year, I had 10,000 double-sided "I buy houses" flyers printed. I hired someone to put this flyer in the door of every one, two, or three family property they saw in my “farm”. Every 3 weeks, 3,000 of these flyers were delivered, and the response from qualified sellers was excellent. For a cost of less than $500, I made two deals that netted over $6,000.

   Bad: Billboards in the same neighborhood. Here is a lesson in messing up a good thing: hot on the heels of my massively successful flyer campaign, I decided to spring for four large billboards in the same neighborhood. The problem was that my marketing budget is only so big, and buying the billboards meant stopping the flyers. Still, I figured that the billboards would get more attention anyway, so I forked over the $1,800 and got...

  Absolutely nothing. Not one single phone call. Not even from an unqualified seller. Not even a wrong number. Nothing.

  The Moral? Stick with What works.

 Good: Flapping my gums. Luckily, talking - a lot - is something I have little problem with. Laugh if you will, but my willingness to talk about what I do to anyone who will listen - or even pretend to listen - has made me a lot of money.

  For instance, when my new barber asked me what I did for a living, I responded that I buy and sell houses. His immediate reaction was, "really? How pretty do they have to be?" Long story short: I bought his unwanted Junker house for $4,000 and sold it for $7,000 the same day. When my attorney wanted to know what type of assets I wanted to protect, I told him about my house-buying business. Four months later, he referred a client to me who sold me a $35,000 property for $12,000. You get the picture.

  Bad: Using only one lead generator at a time. In my experience, it is best to use at least three different ways of finding deals at the same time: preferably two you have used before with some success, plus one that you are testing. Which brings us to

  Ugly: Not knowing which of your deal-finding strategies are working, and which are not! If you are going to spend money on flyers or ads or telephone pole signs or whatever, it is very important that you pay attention to which methods are generating good leads, and which are duds. In looking over my own deals was very surprised to discover how many great deals came from attorney referrals - a strategy that I have not pursued aggressively, but will in the future. If you are not tracking your lead generators to discover which are working and which you should give up, you are wasting time and money that could be put to use making you deals.

 Melvin Feller MA Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

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Every Wealthy Person Owns Real Estate in Oklahoma and Texas and Here is Why by Mel Feller MPA, MHR

Every Wealthy Person Owns Real Estate in Oklahoma and Texas and Here is Why by Mel Feller MPA, MHR

Every Wealthy Person Owns Real Estate in Oklahoma and Texas and Here is Why by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young…

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Real Estate Guidance and How to Profit in a University Setting

Melvin Feller both an adjunct professor in real estate and real investments and financing located in Texas and Oklahoma invests across the country and now sees this current economy as a great time to be investing in real estate.  Melvin Feller has taken a class of college students out to the field to test the theory that anyone can invest smartly and by asking the right questions.  This was a test for Melvin Feller and his new upcoming College Class Book on “Today’s Real Estate Techniques – What Works in This New Economy.”

 His students did well with 10 out of 14 students having bought or been deeded real estate that these students turned around and made profits on.  Melvin Feller called this his first outdoor lab with boots on the ground for university learning!

 However, as Melvin Feller suggested, if you are looking to get into real estate investing you will want to do your research and take advice from people who know what they are talking about.  Real estate investing, if done properly, can make you wealthy and financially independent, over a period of time.  Investing in real estate can be risky at times, due to the current economic situation. This article will give you some great advice if you are wanting or thinking about real estate investing.

 Real estate investment has been proven to be less risky than buying stocks.  It attracts numerous people from numerous different backgrounds and real estate investing has three main benefits: the tax advantages from deprecation and the equity growth.  The best benefit is that is looked at as forced savings account because your renters are paying off the mortgage.

 The term depreciation in real estate investing means purchasing with money that came from a mortgage that has the yearly rents less than the interest of the current mortgage and the expenditures paid for the property’s maintenance. These items convey benefits from taxes and the most important thing is the interest of your mortgage that become highly coveted tax deductions on annual basis.

 Equity growth is defined as the appreciation earned from the value of your properties. One point to remember and always keep at the forefront of your mind is that is not guaranteed, because you have no guarantees that the value of a property will raise.  You always need to know that real estate is micro economically controlled and thus id depend upon that city’s economic policies and safety issues.

When planning your real estate investing you don’t have to start by investing in a place where you live. Just by following due diligence principals on various surrounding areas and getting to know the area like the back of your hand; you can buy an apartment or house that you can then rent out. Furthermore, real estate investing that’s done in a city which you are not going to live actually removes some of the stress and emotion of what and where to buy.  The main reason is because you will need to turn the daily management of those properties over to property management company.

 If you get into real estate investment as landlord, but you feel that you just do not have the time and/or the skills to manage, you can hire a property manager that will take care of the property management for you. Generally, the fee for their skills are around 10% of the profits, but there are many advantages, you save a lot of time and you will certainly profit from the experience and knowledge property managers have.

 One of the most important decisions to make as your preliminary thinking about investing in your local market, I recommended that you try to locate rental property in growing areas that provide everything a tenant is looking for which includes: leisure activities, restaurants, transportation and a sense of belonging to an area that they love.

 Another possible risk in real estate investing is the chance that the value of the property you purchased may actually decrease in retail value, and you may feel that will be forced to sell the property quickly, so consider this when buying and try to pick an area where you know and understand that rents are stable.  Many areas have price drops and increases.  However, we generally never see where rents decrease over this invent. In fact, rents generally have increased and the tenants are still making a profit for you.  So rather then sell the property, it is actually a great time to purchase more property.

 The last item in regards to purchasing and renting out a property is that before doing the initial purchase that you do an in-depth research regarding the history of tenancy in that specific area.  The main reason I suggest this is because if there are too many tenants in a given area your vacancy factor may increase, which translates into longer period of vacancy between tenants.  

 I have described some of the most basic information you will need if you want to start investing in real estate.  Real estate investment is not easy so you should take this advice and do further research with well-seasoned Realtors and Investors if you think that this is the ring thing for you.

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Overpricing Your Real Estate Can Cause Multiple Problems by Mel Feller MPA, MHR

Overpricing Your Real Estate Can Cause Multiple Problems by Mel Feller MPA, MHR

Overpricing Your Real Estate Can Cause Multiple Problems by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel…

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What can a Virtual Assistant do for Your Startup in Oklahoma and Texas by Mel Feller MPA, MHR

What can a Virtual Assistant do for Your Startup in Oklahoma and Texas by Mel Feller MPA, MHR

What can a Virtual Assistant do for Your Startup in Oklahoma and Texas by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young…

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Know Your Inner Strength by Mel Feller MPA, MHR

Know Your Inner Strength by Mel Feller MPA, MHR

Know Your Inner Strength by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel Feller currently maintains an…

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Foreclosure Procedures State by State written by Mel Feller MPA, MHR

Foreclosure Procedures State by State written by Mel Feller MPA, MHR

Foreclosure Procedures State by State written by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel Feller…

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Success in Finding Buyers for Your Real Estate by Mel Feller MPA, MHR

Success in Finding Buyers for Your Real Estate by Mel Feller MPA, MHR

Success in Finding Buyers for Your Real Estate by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel Feller…

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Melvin Feller MA Discussed the Divide and Conquer Aspect of Real Estate Investing

Melvin Feller MA Discussed the Divide and Conquer Aspect of Real Estate Investing

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success.  This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life.  Melvin Feller maintains an office in Texas.  Melvin Feller is currently pursuing another graduate degree as an MBA.

 Are you in different to the different sectors within your real estate market? New real estate investors often start without a plan or system. They are simply looking to buy real estate from a motivated seller. You should be concerned about the market demand for that particular type property (sector). Each sector has its own unique qualities and the demand varies for each one. While your overall real estate market could be hot, a particular sector of your market could suffer from a diminishing demand for several reasons. Get to know each sector within your market.

The better understanding you have of each sector will better prepare you for seizing the right opportunity. Even experienced investors will often lump their market into two categories - residential and commercial. In order to understand each sector you should break it down further. Individual sectors can often soften because of government regulations, new construction, economic downturn and job loss in the area, and even rumors while others remain strong.

Let me show you how to break down a market into several different sectors. Remember, each market may have sectors that do not exist in other areas. For example, a coastal city will have resort or tourist properties and even those can be broken down further. 

Condominiums

Fee-simple multifamily

Townhomes

Single-family

Mobile homes with land

Mobile Homes in campgrounds

Modular Homes

Waterfront

Water view

Timeshare

  Do not evaluate and determine the status of the resort market as a whole. Evaluate each sector separately from the other in order to determine the current and future demand. See the following example

EXAMPLE: Imagine a condominium  market becomes saturated and the demand drops. Does this result in the other  sectors softening in the same market. Not necessarily. The other sectors of  that market could maintain momentum even though the condo market has stalled.

 Let us continue with the same city. Now you want to determine the demand of the long-term rental market for locals. Is that alone one sector? It would seem that the rental market is just one sector of the residential sector... right.

 Wrong!

 Your residential rental market could be composed of

Single-Family Homes

Townhomes/Garden Homes

Large Middle-class Multifamily

Large Lower-income Multifamily

Mobile Home Parks

Mobile Homes with Land

Small Apartments 2 to 8 units

Condominiums

  Plenty of mistakes can be made when investors or developers ignore the above and evaluate a sector along with the whole market. One market that I am in has a soft townhome market and another is saturated with apartments, which drives the rents down. Some apartment buildings were foreclosed on in that market as a result. Is it time to buy you ask? I might agree except new apartment buildings are still being built! That is why they only get $1250 a month for a three-bedroom apartment! With that said, the single-family home rental market is strong, low-income and middle-class. So trying to judge this rental market by the apartment sector alone would be a mistake.

 Therefore, the lesson is, do not judge an entire market or sector by comparing it to another sector. Study each sector and evaluate each one on its own merit.

 Melvin Feller MA is in Texas and in Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

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Mel Feller MPA, MHR, Discuss how to Make Massive Profits from Absentee Real Estate Owners in Oklahoma and Texas

Mel Feller MPA, MHR, Discuss how to Make Massive Profits from Absentee Real Estate Owners in Oklahoma and Texas

Mel Feller MPA, MHR, Discuss how to Make Massive Profits from Absentee Real Estate Owners in Oklahoma and Texas

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an…

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Mel Feller MPA, MHR, an Oklahoma Texas Mentors Bio and Explanation of Coaching

Mel Feller MPA, MHR, an Oklahoma Texas Mentors Bio and Explanation of Coaching

Mel Feller MPA, MHR, an Oklahoma Texas Mentors Bio and Explanation of Coaching

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel…

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Mel Feller MPA, MHR, Discusses the Simple Step Employee Development Plan

Mel Feller MPA, MHR, Discusses the Simple Step Employee Development Plan

Mel Feller MPA, MHR, Discusses the Simple Step Employee Development Plan

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, and Investor. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel Feller currently…

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Melvin Feller MA Looks at the Power of Storytelling in Business

Melvin Feller MA Looks at the Power of Storytelling in Business

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success.  This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life.  Melvin Feller maintains an office in Texas.  Melvin Feller is currently pursuing another graduate degree as an MBA.

 Here’s a quick question for you: What has influenced your thinking the most in your life?

In response to a survey I sent out to some three thousand senior executives which had the above question, the overwhelming majority responded back by replying that the stories they heard [from parents, grandparents, friends, community leaders, etc.] influenced their thinking more than anything else.

 Come to think of it, isn’t that what we do with our own children? We tell our children stories before they go to bed, when there is a celebration at home, when we want them to learn about the great people who lived before us… the list is endless.

 Stories are powerful influencers, perhaps more than any other influencer. Imagine yourself at a meeting with a venture capitalist.  You need a few million dollars to develop new technology that will make clean water available at practically no cost. It’s one thing to present a few dozen slides showing revenues, costs, discounted cash flows, and projected profitability. Imagine that you present the slides and then relate a story about a trip you made to Bangladesh, where you found millions of people suffering from inadequate and polluted water supply, and how one family in this little village lost three children as a result of polluted water. Then, you conjure a scene where this new technology has been implemented in that village, and the entire village has an inexhaustible source of inexpensive, safe water. There are no more deaths due to water pollution. The villagers have been liberated!

While the former presentation would appeal to all the rational instincts of people, the latter is likely to appeal to the rational and emotional instincts of the listeners. And there lies the power of storytelling. A  good story memorably narrated can influence thinking profoundly, as it absorbs and engages the listener.

 There is another powerful item at play. The world is being driven more and more by knowledge. Knowledge workers are very different from industrial age workers. They think more holistically, and are therefore more likely to be influenced by a combination of reason and emotion. As someone said about Powerpoint presentations – hey, we have lots of points, but where’s the power?

 While not everyone is a natural storyteller, all of us can learn to become better at it. It is also a very liberating experience to tell a good story and watch the audience “get” the point. 

 Good stories cut across age, geography, gender, religion, and culture. In a globalized world, well articulated stories are a vital and necessary part of the leader’s arsenal.

  A well told story is almost always more powerful than a logical argument.  Ask Walt Disney. He built an iconic empire on that premise!   

Melvin Feller MA is in Texas and in Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

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Mel Feller MPA, MHR, Creates a Plan for You to Whip Your Business into Shape

Mel Feller MPA, MHR, Creates a Plan for You to Whip Your Business into Shape

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners,…

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Melvin Feller MA Discusses the Basics of Selling Your Home

Melvin Feller MA Discusses the Basics of Selling Your Home

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success.  This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life.  Melvin Feller is currently pursuing another graduate degree as an MBA.

 The process of selling your home can differ from state to state. Before putting your house on the market, there are some important steps you must take to get the most from your investment and to protect your interests.

  Step One

 Get pre-approved to buy another house before you sign a contract to sell your own home. If your financial situation changed since your last purchase, it s possible that you may no longer qualify for another loan. You may also be unable to sell your house for a price that will allow you to buy another house you want. This way, you won t end up renting or buying a house you don t really want. When applying for a pre-approval, be sure the lender discloses the estimated costs required for you to purchase a new home, such as: the loan price, down payment, new insurance, title and inspections fees.

 Step Two

 Call your lender to check the mortgage pay off and calculate the estimated proceeds. First, you will need to subtract the mortgage pay off from the fair market value of your home. Second, you will need to subtract the costs to sell your home from the remainder in order to get an idea of the proceeds you can expect to be paid at closing.

Step Three

Determine your homes fair market value. Most real estate agents will gladly help you determine the market value as a courtesy and may also give you helpful hints to what you can do to increase the value of your house. You may also consider hiring a licensed appraiser, which you will have to pay for out of pocket, to perform an appraisal on the subject property.

 Professional appraisers will provide you with a detailed report that will usually include: the neighboring property values in comparison to your own, an evaluation of the real estate market in your area, harmful issues to the property s value and any defective qualities.

 Step Four

 Estimate what it will cost you to sell your house. If you are using a real estate agent, you may have to pay their commission. If you are planning to sell by owner, then you must consider the advertising, signs, attorney fees, closing agents and other possible fees involved. These other fees may include: appraisal, inspections, surveys, taxes and home owner association fees. Real estate agents can give you a more precise estimate of the closing costs and any other fees that may be involved. Real estate agents are professionals that deal with these transactions every day and can prove to be a valuable asset to you.

 Step Five

 Make repairs. Whether these repairs can be done by you or by hiring a contractor, they should be completed. If there are too many repairs that need to be done, your home will be considered a fixer upper. You want to get the most out of your house and dissuade potential buyers from submitting insultingly low offers. These repairs can range from fixing a broken window, adding a fresh coat of paint, replacing or repairing the flooring, to spackling a hole in the wall. The larger repairs may include fixing a damaged roof or repairing damaged siding. Other issues that can deter a potential buyer is mold and mildew stains and odors, leaky basements, lead based paint, broken gutters, location or type of circuit breaker, plumbing problems and old or faulty electrical wiring.

Step Six

 Before you show your house, do some spring cleaning, regardless of what season it actually is. Organize your shelves and closets, wash the crayons off the wall, dust off the blinds and window sills, clean away the cob webs and wash all windows and appliances. You will want to make everything as spotless as possible and remove any offensive odors and clear the clutter. You will need to present your home in a clean and appealing way to the potential buyers.

 You may also need to work on the exterior part of the house by scraping and painting porches and windows or maintaining an appealing lawn. You can also add low maintenance decorative flowering plants and shrubs to dress up your yard.

Now that your home is ready to show, make it accessible to real estate agents with potential buyers at all times. Most buyers feel more comfortable being shown a house when the owner is not present. If you decide to take a walk while your house is being showed, make a note to the agent if there are any pets on the premises. You will want to be sure that your cat doesn t get out the door or that your dog is securely locked up in a crate or in the back yard. You want everything to go as smoothly as possible.

  Melvin Feller MA Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

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Mel Feller MPA, MHR, Examines Business Core Competencies

Mel Feller MPA, MHR, Examines Business Core Competencies

Mel Feller MPA, MHR, Examines Business Core Competencies

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, and Investor. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young entrepreneurs. Mel Feller currently maintains an…