Well, once again time is passing me by. The month of May has passed and I have finally found time to take a breath and sit down with you all again. As you can see our sucribers are slowly growing. I am sure much of you were introduced to the newsletter through my site, FreeForeclosureSites.com. I appreciate your support with that website. If you have been there lately, you will notice the Google AdWords advertising. I hope you help support our efforts by checking out the other sites availbale for foreclosure information besides our by clicking on the links. This will also help us with some of the costs in keep ing the site up and adding more content and features in the future.

Unfortunately, no one has posted any questions to our discussion forums on our other website www.WealthMastermindGroup.com. I guess everybody must be doing great and doesn't have any doubts or need help. If there are some other topics you would like, let us know and we'll get them created.

Contents:
1. Using the internet to collect leads.
2. Adding equity to your properties.

Using the internet to collect leads.
by Kevin Davis

We are getting better at this, but still not quite where I want to be. Currently, we are recieving about 60 national leads a month from our lead capture webpage. My goal is to raise that number to 150 per month by the end of July. The page I have put togethor is really very simple. A seller, simply fills out the form online and when they press the submit button, the lead information is sent to me through email using a simple public domain email script I found. The next phase of this development will collect the leads into a database so that we can more easily search the leads and prioritize our callbacks based on area and the amount of equity that is possible. To see an example of our leads capture page and the information we collect, you can visit: www.wealthmastermindgroup.com/ibuy.htm. To get traffic to the site, I use Pay Per Click search engines such as Overture and Kanoodle to drive traffic there based on search terms I choose. There are also several subscription based lead collection services. These can be rather expensive to setup and are normally priced by county or metropolitan area. An example of the paid services can be found at: www.webuyhouses.com

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Adding equity to your properties.
by Kevin Davis

One way to build wealth is to increase the equity you have in a property. While some improvements to kitchens, etc can raise an appraisal, the best way is to add usable square feet. Of course you can add an addition to a house or convert a bonus room to a bedroom, however we have started to take a different approach in the buying process itself. We are now starting to target properties with unfinished space, such as an unfinished basement. The current property I am working on is an REO, with over 2000 square feet of basement space that is unfinished. When this space is finished, it will add up to $180,000 to the value of the property. Currently, houses in that area are going for $92 a square foot. This is an incredible way to add value to the property and allow you to turn the property for a considerable profit since most home buyers are not looking to spend the extra time and effort to finish the basement. A person looking for a 4 or 5 bedroom home want the 4 or 5 bedroom today, not a couple months down the line. My partners latest house has over 3000 square feet unfinished at $100 a square foot. This adds $300,000 to the value when finished. I can guarantee it will not take $300,000 to finish that space.

The next time your looking for an investment property, start with the mindset of "What can I do to add value to this property?" You may be suprised to see what you find. Good deals are everywhere, it just take an investor with a positive mindset and the creativity to make it happen.

Building Passive Income Through Real Estate is published by Kevin Davis, Editor & Contributing Author. Every week when possible.

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