JIMMY DAVIS REAL ESTATE

How Much Income Do You Need to Buy a House? - Yahoo! Homes

2012-10-29T08:38:00.001-05:00

Here is a nice little article (in the link below) that I liked that explains how some banks look at your income to determine how much “House” you can afford…I would also like to remind you that not all lenders have the same parameters and some have more room to wiggle than others. If you ever need a recommendation to a good loan officer just let me know…

How Much Income Do You Need to Buy a House? - Yahoo! Homes

Jimmy's List of Smart Investments

2012-09-06T13:03:00.000-05:00

I believe there are many investments in the market today that really are not investments at all, but more like scams to get you to spend your hard earned money, (and yes I am talking to you folks that work your ass off) just to get scammed into some so-called investment by some slick sales person, our government, and our society. With that said I here is a list of investments that I believe to be good, safe, and smart investments for almost anyone who wants to start having their money work for them... instead of working for that almighty depreciating dollar.

Here is MY list of SMART investments:

Rental Properties...By far the best investment that I know of...see my article on "Building Wealth."
Start a Business...follow your Dream! Or at the very least have some kind of "side hustle" to build and grow.
Write a Book...with the ability to self publish your own book and advertise it on Amazon for sale...what do you have to lose? I'm writing my first book right now! Who knows you might get mega-rich just by using your brain a little bit! Imagine that!
Invest In Yourself...Finally, and probably the most important investment that you can make is within yourself. By this I mean any way that you can improve yourself either mentally or physically. Taking a class to learn something you did not already know, or to better your understanding in a particular area to open your mind. Or you can work on developing a positive habit in your life like working out, or meditating regularly, or even brushing your teeth before you go to bed every night. Chances are that if you are focusing on positive habits you won't have time for your negative ones.

I'm sure there are others out there, but these are investments that I myself practice to become a better person and to live a better life.

What Is The Best Source For Finding A Rental Property?

2012-08-13T11:50:00.000-05:00

So you have finally decided you are going to make that move and invest in real estate.

Great!

Now where do you start?

There are many options. You can look on Craigslist. You can look on other websites that have people selling their homes by themselves. There are a number of local auction companies that are auctioning off homes daily. There are mortgage foreclosure auctions. There are Short Sells. There are REO (real estate owned) properties. There are County Tax Auctions. And then there is your more traditional avenue of just using a good ol real estate agent...and I would not be doing you justice if I did not mention all of the scam artists that are out there trying to get your money too...so which way is the best way to find a good deal on a rental property?

They all have their pluses and minuses. And every investor is different and every investor's situation is different.

Well I hate to say it, but there is no one single way that is better than the next to find the "right" deal on an investment property. I have bought properties, or have been involved in the transaction from almost every single suggestion above, and from my experiences...if you really want to get into this business of building residual income...you have to be up to date on ALL of them! You have to be knee deep in the real estate game to find and know where the best deals are. Or try to find someone out there (Jimmy Davis) that is up to date and that can help you.

But don't let that get in the way of starting your journey to financial freedom. You have to start somewhere, so just start, and keep in mind that the Pyramids in Egypt that are still standing today were started with just one stone...actually just one idea, and the action to execute that idea. So quit sitting there and take action! Right Now!

Building Wealth

2011-08-31T13:44:00.000-05:00

Are you like me and absolutely hate being an employee and making someone else richer? Well I have a solution, but I have to warn you that this is not an overnight solution...it will take some time.

It seems like these days you already have to be rich to buy anything that will make you rich...in other words, you have to have a lot of money to make any money.

Or do you feel like if you start your own business that you would be better off just working for someone else because you can work less and make more money with way less overhead? I know the feeling...

The first thing you have to do is a financial checkup! What's this...take a look at your expenses, your bills, everything that you spend your money on. Most of us are spending way too much and not saving anything at all...this is your first problem...no matter how much money you make save as much as you can! I know I know you need that money to make it thru the day with food, bills, gas, etc,....This is where the financial checkup comes in...you have to find a way to lower your bills to save that money. If you are never able to save any money then you will never build up enough money to set yourself free. No matter how long it takes it could be weeks, months, even years, but start doing it today!

Ok...now you have some money saved up, right? Here's my solution: Invest in rental properties!!! From my experience it is the best way to build wealth! For a whole bunch of reasons:

1. You get paid every single month your property is being rented!
2. Someone else is paying the property (loan) off for you!
3. Real Estate tends to appreciate in value!
4. You're the boss!
5. You can take a loan out and get cash out of your rental property...now you have more money to make more money! Buy more rental properties with that money!
6. You can have rental properties and keep your day job until the rental properties can pay for your current lifestyle!
7. You can hire a property manager to handle all the b.s. that goes with haveing a rental property for a small fee, and still make money! Don't do it all yourself!
8. Our population is not declining so people will always need a house to live in!
9. Best of all it's passive income (which means you still get paid, and you don't have to do any work!)
10. Tax benefits...
11. You can hand down your rental properties to your kids, and then they won't have to work either!

Those are just a few of the reasons that I can think of off the top of my head, but there are many more...

I haven't reached financial freedom just yet, but I can see the light at the end of the tunnel. I will keep blogging about building wealth and hopefully I will be able to help others in my experiences!

www.jimmydavisrealestate.blogspot.com

How to negotiate the best deal on any vehicle

2011-06-12T01:56:00.000-05:00

I've always told customers that the hard part is finding the right vehicle, and the numbers will fall into place. Which is really just another way that I know to bypass that actual question of a customer trying to negotiate a discount on any given vehicle.

I've been in the car business for over 6 years straight now , and I'm still going at it. In my experience the easiest, and best way to get your best deal on a vehicle is pretty easy...no matter what kind of car you're looking at...all you have to do is find a comparable model on-line with the lowest price. Call that dealer and start negotiating a deal on that vehicle and your trade-in too. Then take that same information, (or ammunition is what I like to call it) to your local dealer that has the car right there in front of you that you can see, touch, and actually test drive. I would even print the info out on the other vehicle that I found 4 states away to have with me.

Then you just simply explain to the salesman or sales manager that this is simply a business decision and it would not make since to pay more for a vehicle that you can get down the road for less. Most of all during this negotiation process try to be nice to the sales consultant and the sales manager. I've found that if the customer is nice and not a jerk about it that in the end we will go on ahead and match the other dealers deal...when normally we won't if the customer is being mean to us.

State your demands, and tell the sales team that it's strictly business and in the back of our minds as car guys we understand. If they say they cannot do it thank them for their time and leave....9 out of 10 times they will call you and do the deal...especially if they like you, but if it's someone that I hated talking to then I (the salesman) will not call them back.

Believe me I always hate it when a customer comes in with this type of information...and it really doesn't happen very often...so do a little bit of internet research and good luck on your new car!

Click here if you would like to see more of my vehicle buying tips: http://www.millionairesalesconsultant.blogspot.com