The properties, largely residential lots in mountain home developments, will start online at 8 a.m. Feb. 8 and concludes at 2 p.m. Feb. 15. Interested parties will be able to place bids online at www.ironhorseauction.com (the auction page), as well as in person at the Wilkesboro Civic Center. The latter “in person” bidding will take place just before online bidding has concluded, 1 p.m. Feb. 15.

According to  Elkin bank chief, Joseph Towell, the auction is being held to justify the balance sheet of the bank. All the properties are to be sold  ”as is” with no minimum price limitations. Also, all the lots will be free and clear of any liens or impediments. The lots are pad ready, with some having city water and sewage hookups in place.

Iron Horse’s website has all associated maps and descriptions. The image above being one, shows lots in a Wilkes County subdivision.

Image © freshidea – Fotolia.com

Investor number one: Gene

A down home country boy from north Georgia who is about as smart as they come. I selected Gene out of literally dozens of investors I could have chosen because Gene is one of the most successful investors that I’ve ever met, and has one of the more unusual investing strategies that you seldom hear about.

Gene told me this story himself during a casual visit to his office a few years back. Gene’s main strategy is keeping up with what state and local governments are planning to do, especially as it pertains to development of new projects.

Back in 1975 Gene was at a Department Of Transportation meeting when they decided to put an extension of an expressway system right through his small town. Through this public process, which anyone can attend, Gene discovered exactly where the new exits would be located for this expressway. Though the area was totally undeveloped, and at that time had virtually no value for immediate commercial use, Gene raised $86,000 and bought 100 acres surrounding the area where one of the planned exit ramps would be located.

During the ensuing years, Gene kept that land and paid very low property taxes, and waited for the expressway and the exit ramps to be built. It would be about 15 more years before the area became highly desirable for commercial use. But it eventually did. Today Gene prefers to offer 100 year leases to commercial clients, and has gas stations at this exit, restaurants, hotels and several other businesses, with land left over for new clients. If someone wants to buy an acre of this land, Gene’s asking price is $1,000,000 per acre. Not bad for an original investment of $860 per acre.

The main keys to his success are the ability to be very foresighted about what would happen in the future, and the patience to take advantage of it. In the years since that original purchase, Gene has duplicated this model many times over and owns a wide variety of commercial properties with tenants that include every one from mom and pop businesses to oil companies to fortune 500 retailers. He is a buy and hold guy all the way, and prefers to hold and lease rather than sell outright.

Investor number two: Mary

I had to get at least one of the ladies in here. I chose Mary because she too has a very unique storys as well as a creative approach to real estate investing.

Mary’s parents emigrated to the U.S. after barely surviving World War II in eastern Europe. After losing everything they had during the war, they arrived in the U.S. with nothing, to start a new life in America. Mary was born some years after their arrival in the U.S.

Today she is a highly successful real estate broker, who has her own realty company in addition to her investing activities. Mary owns apartments, buys and sells single family houses and has a typical investing business. But she did a deal once on a mobile home park that was very clever and something that you don’t hear about every day.

The mobile home park was one that had a reputation for drugs and trouble. The previous owners had allowed the park to run down, and because several of the tenants were involved with using and selling drugs, most of the better tenants had moved out, leaving the park half empty as well. But Mary is a bold investor who knows the real estate business inside and out. She saw something in that park that no other investor saw.

After closing on the park she promptly informed all of the current residents that there would be a crackdown on drugs and drug dealers. Using the legal tools at her disposal, she quickly rid the park of all those who had been identified as problem tenants or involved in drugs. Then she cleaned up the park to make it more desirable for future occupants.

Mary also had a creative idea up her sleeve that was truly a stroke of brilliance. While doing her due diligence on this park, she discovered that each of the individual mobile homes also had their own septic tank. Many communities of this type have several units sharing one tank, but in this case, they all had their own.

Because of this fact, Mary was able to get each of the units in the park rezoned as individual residences, with each lot partitioned into an individual parcel. As a result, Mary was able to offer the units for sale with owner financing. People could come in and buy their own unit instead of renting.

It worked like a charm and Mary sold the units off to owners instead of renting to tenants. The result was a higher cash flow per unit, while avoiding headaches and costs of maintaining the units. A run down, drug infested park was transformed into a major cash cow. Mary never stops learning, and considers all of the strategies that may be employed when looking at a potential investment.

In my next article, I’ll feature two more professional investors who have been wildly successful.

Donna S. Robinson is a real estate investor located in Atlanta, GA. Follow her on twitter at donnaconsults. Her facebook page is facebook.com/realtybizconsulting Her latest book, Basics Of Real Estate Investing” is now available on Amazon.com

Two single lots, each five and a half acres, as well as a 7.5-acre parcel with a four bedroom house, make this a unique property for the well heeled New York paradise seeker. Built in 1979, the rustic home offers 20 foot ceilings in the main room, a fireplace, and glass doors that offer a view of this extraordinary Island getaway. Go clamming, sunbathe on your own beach, or entertain several families at once. Fishing, boating, camping, crabbing, you complete the list of things to do on and around Southold Bay.

Oh, there’s also a boathouse, and inground pool, tennis courts, and a host of other amenities and features to enjoy. The listing is maintained by Town & Country Real Estate, in case you are interested in finding out more.

The listing agents are Nicholas Planamento and Joan Bischoff of Town & Country Real Estate’s Mattituck Office. The image below is courtesy their website, while the  Southold Bay image at top is courtesy © TheSupe87 – Fotolia.com.

Southold | $3,995,000 | IN No. 28807

Today, Y Cross Ranch runs some 850 pairs, and 800 plus yearling cattle. The panorama of Wyoming scenery, along with valley views, further differentiate this one of a kind property too. Y Cross Ranch is a rare opportunity to acquire a bit of western legacy, along with a large production ranch. This says nothing for the exceptional outdoors and living potential. Interested readers can view a wonderful brochure about this property via this PDF.

From irrigated meadows, picturesque creeks, and elevations of from 6,400 to 8,613 feet, this ranch is literally something out of a Hollywood script, not to mention a productive investment potential.  Ranch Marketing Associates’ Ron Morris, had this to say about the sale:

“The Y Cross Ranch represents an extremely rare investment opportunity to own a classic western, low-overhead, large production ranch in a prime Wyoming location. The property is offered for sale in its entirety including all real estate, improvements and water rights through a Sealed Bid Process. Bids will be opened on November 13, 2012 at the Little America Hotel in Cheyenne, Wyoming.”

Ranch Marketing Associates, a company with over half a century of experience in high end residential and agricultural properties, has had over $600 million in sales for over 3 million acres. For more information on this property and others, please visit www.RMABrokers.com.

If you’re a car enthusiast and you would like to spend more time in your garage, working on your car or even on other projects that you don’t want to bring into the house then why not create a space that’s welcoming and inviting? You can build a dream garage on any budget, just by sticking to a few basic ideas.

Image courtesy © Torian - Fotolia.com

The following is a short list of 10 ways to build the garage you’ve always wanted . Be careful, though. By the time you’re finished you might not want to leave!

1. Hot and cool air- If your garage just gets too cold in the winter then make it more comfortable by adding air. A window unit will cool it off in the summer (if you have a window) while a forced air heater will heat it up in the winter. The Family Handyman suggests one that burns natural gas since it tends to be cheaper.

2. Comfortable seating- You don’t have to drag in a recliner (though you can if you want to) but comfortable stools and chairs will make sitting for long periods of time a lot easier. Try to get a stool with a back so that you have extra support.

3. Storage- Built-in cabinets, shelves, drawers, and platforms will give you lots of space to store your tools and gear. They’ll get things up off the floor, too.

4. Wall décor- You might not decorate your garage like you, say, your kitchen but that’s no reason to leave the walls bare. Scour the internet, secondhand shops, or home decorating stores for lively, colorful prints. Consider images of automobiles, classic bikes, or even movie posters.

5. Get connected- Consider putting a place for a computer in your garage. You might put a desktop in there or, if you have a router, using your laptop and a wireless connector. A computer is handy for when you’re working on a project and you need to quickly look something up. It could be anything from parts that you need to an online car insurance comparison site.

6. Install a bathroom- If you have the extra cash and can swing the plumbing issue then install a half-bath in your garage. You won’t have far to go if you’re in the middle of something and if you get greasy while you’re working you won’t have to stop and clean up before taking care of your business.

7. Provide some entertainment- In the old days, you might have had a portable radio out in your garage. Now, you’re not just limited to your transistor. Instead of relying on what the local station has to offer, consider putting in a CD player, iPod dock, or even a flat screen TV. Mounting a TV on the wall will get it up out of the way and ensure that you can see it from anywhere in the room.

8. Change the flooring- You don’t have to stick to dull, boring gray concrete floors. The internet is abundant with new flooring options that can deal with heat and weight. You can find garage floors with interesting patterns, textures, and colors. Your car will never look snazzier.

9. Feed your urges- You can work up an appetite staying out in the garage all afternoon. A basic refrigerator or even a wet bar that’s fully stocked will keep your thirst quenched and your appetite sated.

10. Install a security system- If you’re going to keep anything valuable in there, from your tools to your car, then you’ll want to protect them. Adding a security system is a must. Garages are sometimes overlooked in regards to the rest of house but they shouldn’t be.

Betty Schiffman of Forbes.com says that today, garages have become a “trophy room” for those that love their vehicles. Now, your garage can be an excellent place to spend time in-no matter what your budget is. ”While not binding, a real estate assessment can be a very useful tool in evaluating a home’s value.”

About the Author

Melissa Cameron is a freelance writer that loves coming up with new, creative ways to define spaces that need a facelift. She’s provided many valuable tips for those looking to re-purpose, re-furbish, and renovate nearly every room in the house. She’s also a pro at finding the best online auto insurance quotes.

Donald Trump

According to the billionaire, who is as famous for his hairstyle as he is for his fortune, he rented out some land to Qaddafi when the Lybian “Leader and Guide” was visiting the United Nations. The deal was conducted through intermediaries, and Trump did not actually kick Qaddafi to the curb until the neighbors complained.

Nevertheless, Trump recently felt the need to recount the entire story to Fox News to demonstrate how he has dealt with all manner of folks when it comes to his realty transactions. “I rented him a piece of land. He paid me more for one night than the land was worth for two years, and then I didn’t let him use the land,” Trump explained, “…That’s what we should be doing.”

By “that’s what we should be doing”, he apparently means we should make deals with dictators and then not honor them, but only after people find out about it and complain.

Donald Trump is the Chairman and CEO Trump Organization, which develops real-estate in the United States. He is also the founder of Trump Entertainment Resorts, a company that manages several casinos and hotels around the globe.

Muammar Qaddafi

Qaddafi, whose main wealth comes from a Libyan oil company, is estimated to have a net worth of over $20 billion, although the exact number has not been disclosed. If his fortune is anywhere close to that, anything Trump might have “screwed” him over for would amount to spare change.

Images courtesy:  openDemocracy and Gage Skidmore.