California real estate continues to be priced far above the national average. And potential homebuyers looking at the highly desirable real estate in San Diego County have always been in the thick of the high-priced housing market. Escondido real estate is one of the most affordable housing markets in San Diego County; and it has the lowest median home prices in all of San Diego North. Earned income in the Escondido real estate area tends to be on track with the national average. 2006 median incomes for families who owned Escondido real estate were at $60,369- about $4,000 lower that San Diego County overall.What Does Affordable Mean in Escondido Real Estate?In a county where median home prices reach into the millions, it’s fair to question the definition of affordable. In regards to Escondido real estate, it is possible to find single family homes in the high $200,000s- a rarity in San Diego real estate. The median home prices fall around $450,000. And as anyone in this market will tell you, that’s a deal. Why are prices so much lower in Escondido real estate?Well, let’s compare the Escondido real estate population to others in San Diego County. About 20% of this population has a college degree. According to the Mayor’s website just over 50% of the Escondido real estate population is considered white collar. And the crime rate is at or slightly above the national average.What this means is that the Escondido real estate community is significantly less affluent and educated that an area like La Jolla or San Marcos. On the positive side it means that Escondido real estate is a lot more affordable for people buying starter homes, or with growing families. On the negative side it means that schools are lower rated and tend to have more of the issues that come with lower income populations.Escondido real estate is also in the midst of the illegal immigrant problem. With a 43% Latino population, the recent ban on renting to illegal immigrants has residents and renters in a fight over what’s right for the community and the Escondido real estate economy. While the median income of Escondido is on par with the national average, the cost of living is significantly higher at 151.9 versus the national average or 99.52.Is Escondido Real Estate Right for You?While Escondido real estate may not shine as brightly as the luxury homes of La Jolla, it still has a lot to offer. Historic homes in Old Escondido, family friendly neighborhoods, natural parks, lakes, and near perfect weather all explain why Escondido real estate is always moving. When the affordability factor is added in, it makes sense that many homebuyers are looking at Escondido real estate for their first homes.
Becoming a real estate investor is not as difficult as you think even though you don’t have the capital and experience. Sound too good to be true, right? There are many ways of getting started in real estate investing. One of the easier and getting popular way is to become a real estate bird dog and get started learning real estate investment from seasoned investors.You should consider real estate bird dogging as the first step of your investing career if you are serious to become a real estate investor. Why? Because real estate investment requires you to have the knowledge and experience in addition to sufficient capital. As a real estate bird dog, you get the opportunity to expose yourself to real estate investment without buying properties. It is basically a risk free method of real estate investing. Depending on how much effort you are willing to put in, a bird dog can easily make few hundred to thousand dollars a month by finding profitable deals for the investors.Besides, you can start your bird dogging in your spare time, mainly during your weekend without having to give up your day job. And you get the opportunity to sharpen your personal attributes especially communication skills during the process.If you intend to be a part time real estate investor while holding a day job, please be reminded that there is no quick buck in real estate investment. It is crucial that you treat your real estate investing as a business as it may take months if not years for your business to bring in significant cash flows before you can quit your 9 to 5 job. So, it does pay for you to become a full time real estate investor.Don’t give up your dream to become a real estate investor if you are not there yet as real estate bird dogging is a great way to start your investing in real estate.
Imagine buying a great property with none of your own cash, funding it with someone else’s money, pulling up to 60% of your profits out in cash on the day you buy, collecting more cash when it’s occupied and then enjoying a predictable and reliable positive cash flow each month. Now imagine doing this… every month! That’s what you can do when you use advanced strategies for raising millions in private money for real estate investing.The most important factor when you’re looking at getting started raising millions in private money for real estate investing, is to get started right and to get started right now- in that order. No one can MAKE you start raising millions is private money for real estate investing, but at least I can help you put together the plan to get started right by helping you find the money and find the time you already have right now to find it in.If you’re looking at getting started raising millions in private money to fund your real estate investing, you want to make sure you can find the money and find the time needed to do it right.Print this article out and honestly complete the 2 exercises for yourself, and you’ll be on your way to doing just that!First, you want to find the money.Let’s help you to take stock of your existing financial resources. The answers to these questions will determine exactly what types of real estate investing you want to pursue.Don’t worry, whether you’re a multimillionaire or middleclass, or even a homeless guy with no job, there are ways to build wealth in real estate-by raising millions in private money to use for your investing. But, before we get to that….Just answer these questions for yourself and you’ll be well on your way to determining the best way for financing your plan.This first exercise will help you determine what kind of money do you have on hand to invest in real estate. Where will any needed down payment money come from? What kind of financing can you get?You may even realize one or two sources of cash you can tap that you might not have thought about using (these will be in addition to the strategies I’ll cover in raising millions in PRIVATE MONEY from other folks)1. Personal Checking Account $__________________
2. Personal Savings Account $__________________
3. Pension/401k Fund (withdraw) $__________________
4. IRAs/Roths (withdraw/borrow) $__________________
5. Stocks/Bonds/Mutual Funds (sell) $__________________
6. Credit Card Total (cash advance) $__________________
7. Home Equity Lines of Credit $__________________
8. Friends & Family (who has money?) $__________________
9. Cash-Accrued Insurance Policy $__________________
10. Other Sources to Raise Capital $__________________That’s your money and you should use it in addition to or before you worry about raising private money.Raising private money comes down to building relationships with people who have money. And that takes TIME and trust! I can’t teach you how to build trust in a 1000 word article. But I CAN help you find more time to do these things so that you can start your plan of raising millions in private money to you’re your real estate investing business.So, secondly, you want to find the time.Let’s help you to take stock of your existing time usage. The answers to these questions will determine exactly what types of real estate investing you want to pursue and what things you may need to “give up” to implement your plan of raising millions in private money for investing.Don’t worry, whether you’re a busy entrepreneur or a regular working-man, have a family or just have many time commitments, there are ways to build wealth in real estate.Just answer these questions for yourself and you’ll be well on your way to finding the time you need for your plan to get started now in real estate investing.This second exercise will help you determine where your time is going each week, in some cases time spent on things you might possibly could do without- and will help you find time that you could likely be using to learn about and do real estate investments.You may even realize one or two ways you spend more time than you thought, just by being honest here!1. Watching television #hrs/wk: ______________________
2. Surfing the web (with no purpose) #hrs/wk: ______________________
3. Reading “fluff” (no educational value) #hrs/wk: ______________________
4. Sleeping more than 7 hours/night #hrs/wk: ______________________
5. Working (primary job/business) #hrs/wk: ______________________
6. Working (second job/profession) #hrs/wk: ______________________
7. Household chores (cooking, laundry etc) #hrs/wk: ______________________
8. Shopping for fun #hrs/wk: ______________________
9. Pursuing hobbies (non-investing) #hrs/wk: ______________________
10. Chatting on the phone/internet #hrs/wk: ______________________If you’ve completed these simple exercises, congratulations!Time and money might be the most wished-for things in the world, but few people ever take stock of what they already have (even those who wish for more, like folks who want to raise millions of dollars so they can invest in more real estate).Whether you found more money than you thought you had, or more time than you realized you could use to invest and learn about investing, you’ve already discovered something powerful about yourself.You’re a person who goes after what he/she wants.Now that you have taken stock of your existing financial resources, and existing time usage, you’re ready to get started raising millions in private money for your real estate investing.You’ll also need to (if you’re not yet investing) need to now determine exactly what types of real estate investing you want to pursue, what techniques you want to use, where and how you want to invest, and what kind of investments make you most excited.Trust me. If you have found the time and found the money you already have…you’re already half-way there to getting started raising millions in private money for your real estate investing.Ready for the next step?It involves showing others how to do the exercise you just did (you DID do the exercise, didn’t you?) to “find their own money” and then GIVING THEM A REASON to give you that money to invest!I’ve got plenty of other articles on how to do just that and one you should read is titled “How to Find Investor Partners and Private Lenders for Your Real Estate Investing”. You can just search for that phrase right here on the site, or through your favorite search engine. Find that article and read it next for the mechanics of FINDING and building RELATIONSHIPS with folks who can help you in your quest of raising millions in private money for your real estate investing.