First Investment Deal Tips

Because I have been investing for a long time, many new investors assume I’ve always known how to buy and sell investment real estate. Absolutely not true. No one is less experienced than I was starting out, but I had an absolute goal and I was willing to work hard to achieve it.

Let me tell you about my very first deal:

Jim and I knew we had to let people know that we wanted to buy houses if we were ever going to find deals to purchase. So, we began a little bit of very inexpensive marketing to get the phone to ring – walked neighborhoods putting out flyers, had magnetic signs on our car doors, put an ad in the local Nickel Paper (a three line ad was only $265 for a year). I had questionnaires printed out and stacked by the phone so, if a seller did call, I’d remember which questions to ask.

Like most new investors, I was terrified. Because I didn’t know what I was doing, I really didn’t want sellers to say “yes” to my offers, so I always made very low offers. Investor ignorance is not always a bad

Perfect Time To Maintenance Your Home

Home ownership, is, both, a right, and an obligation! A smart homeowner considers how, to effectively, maintain, his house, in the best, most effective way, to minimize costs, hassles, and keep the home, well – maintained! Rather than waiting for obstacles and challenges, to become problems, the wise ones, realize and recognize, it’s a good idea, to do, regular maintenance, on a seasonal basis. After over a decade as a Real Estate Licensed Salesperson, in the State of New York, I have attempted to simplify this process, and refer to, this approach, as the 4 Seasons, of Home Maintenance.

1. Spring: Nearly everyone has heard of Spring Cleaning, and wise owners, approach this season, as an opportunity, to address, issues, which were brought on, by winter’s weather. For example, in colder climates, houses undergo certain stresses, during winter. Front hallways, often suffer, because of the dirt, brought into the house, by bringing in the elements, such as snow, salt, etc. In addition, they clear leaves, address plantings, repair cracks on paved paths, driveways, and exterior foundation, as well as examining, whether the weight of snow and

Tips To Securing Your Capital Estate Investment

I previously shared the steps for creating a professional plan for a real estate project; the importance of obtaining third-party validation; advice in how to find the right financing sources; and suggestions on presenting the project professionally, then closing the deal. This approach will enable you to obtain financing term sheets, letters of intent and/or financing commitment letters from lenders if your project is financially feasible and falls within the lending parameters of the financing institutions that you approach. Nevertheless, financing always requires a cash contribution, as 100% financing is not realistic in today’s market.

Lender requirements for cash equity contributions, deposits or down payments, typically fall between 15% and 40% of the total project cost (85% to 60% Loan-To-Value ratio). A portion or all of the equity value in the property can sometimes help reduce the cash deposit requirement, but it is very unlikely for a conventional lender to completely eliminate the cash contribution requirement because lenders want to ensure that the principal(s) are vested in

Steps To Get Started in Property Investment

1. Know Your Budget

Before taking a plunge into property investing, it is essential that you have an in-depth understanding of your cash flow. Plus, ask your bank for the pre-approval of your investment loan so that you know how much you can borrow prior you hunt your properties.

2. Don’t Skip Ongoing Costs

Ensure that you have sufficient budget for the insurance, rates, and general repairs. When you have bought your perfect investment property, know what you can do to stop costly maintenance problems like as replacement of old taps.

3. Purchase In the Growth Area

Pick an investment property in the areas where there is strong demand for the rental accommodation. So, purchasing an asset to transport, schools or universities will make it more alluring to the renters.

4. Be Practical About your Investment Goals

If you are hunting for the long-term property for fast capital growth, then it is easy to renovate properties and convert them for a quick profit. In slow economic times, it may take many years to get the same growth.

5. Create Sweat Equity

Paying tradesman to renovate your investment property is a costly affair. But if you are prepared to get into this, you can boost your profit margin and

Tips To Get Different Investment In Property

The real estate market thrives with many opportunities that give chance to people to earn. The portfolio is diverse such that there are also many investments to try.

Rental properties are among the most common of the real estate property investments. This is as simple as buying out the property and letting someone (tenant) rent it for some period as determined by a contract. While the landlord (property owner) is responsible for maintenance and tax dues, the tenant has the obligation to pay for the monthly rent.

The downside to this investment is if the landlord will have to deal with irresponsible tenants. These people do not care at all and can end up damaging the property.

If you’re not keen with this property investment, you can try the real estate investment group. It will let you buy apartment blocks, condo units or even townhouses with a single company acting as the property manager. You keep ownership, usually documented in block and white. The investment company collects payments for you whole keeping some portion of what the tenants pay for the monthly rent. In some cases, there is a portion allotted to cover for units which are left vacant for short periods.

Another property

Guide To Choose Real Estate Company

Selecting a commercial real estate company can be a challenging process. You want to hire someone who is knowledgeable, skilled, experienced and can match your goals and ideals. This is easier said than done. One company may offer you some of these features while others have the remaining characteristics you desire. There is no lack of the number of commercial real estate companies out there, which claim to possess peerless knowledge and skill. So, how do you go about selecting a commercial real estate company?

The secret lies in finding a real estate company that suits your needs and criteria. Yes, there are some overlaying concerns that also need to be considered like appropriate documentation. However, when you are looking for one of the best real estate companies for your needs, you need to do more than just scratch the surface. Here are some tips outlined below that can be useful in helping you during this process.

Let’s take a look at them:

Look at their experience

Commercial real estate is a blanket term and this business can be multi-faceted and highly nuanced. Therefore, you cannot just hire any real estate company for your needs. You have to start looking for one that suits

All About Mortgage House

Although, owning a home – of – one’s own, is often, considered, an essential component, of the so – called, American dream, unless/ until, someone, prepares, effectively, and has the financial necessities of affording to do so, this dream, is quite challenging to achieve! The vast majority of Americans, especially, first – time, home buyers, must utilize a mortgage, as a key part of being able to afford, to buy, one of the stumbling blocks is often, preparing, in advance, to do, everything needed and necessary, to qualify, for the best possible financing options. With that in mind, this article will attempt to briefly review, examine, consider, and discuss, 6 major considerations/ actions, for qualifying for a mortgage.

1. Overall Credit Rating, and Score: The higher one’s credit rating, and score, the better, the chance of securing the best possible form of financing. Wise home shoppers, begin the process, at least six months, before they start their hunt/ search, and secure a copy of this report, from the major bureaus. Do so yourself, or if, needed, use a professional’s help and guidance. Correct errors, fix them, and begin reducing your debt. In this period, avoid taking out, and/ or using any additional debt!

2. Total

Things Should Be Prepared Before Own A House

Since, for most of us, our house, represents, our single – biggest, financial asset, wouldn’t it make sense, to do, all we possibly might, to ensure, we do so wisely, and in a prepared, informed manner? Wise home buyers, proceed, in a cautious, well – prepared way, and balance their emotions, and logical components, in order, to best determine, what makes sense for them. While each individual, has, specific needs, requirements, and objectives, each should commit to wisely, proceeding, through the process. This should begin with effectively preparing, prior to even, beginning the house – hunting, search. With that in mind, this article will attempt to briefly consider, review, and discuss, 6 keys, to preparing to buy a house.

1. Reduce debt – Pay down, or off: Begin your planning, at least, 6 months, prior to beginning your search! Do everything possible, to pay – down, your overall debts, and attempt to eliminate, as much as possible. Since most use a mortgage, to pay for a house, it’s important, to enhance your credit, and overall debt, is a major consideration, for most lending institution!

2. Do not add, new debt: How many times, have you shopped, in a store, and been offered, a discount, if you

Factors That Impact Home Buying

Most people consider, owning a home, of their own, to be a meaningful component, of the so – called, American Dream, but, in order to ensure, dreams do not become nightmares, it’s important to proceed, with insight, well – prepared, and doing all they can, to make the best decision, for their needs and requirements. Since, for most of us, our house’s value, represents our single – biggest, financial asset, doesn’t it make sense, to prepare properly, and proceed, in the best possible manner. This article will, therefore, attempt to briefly consider, review, examine, and discuss, 4 factors, which might, often, impact home buying.

1. Supply: When the supply, of house’s available, on the real estate market, exceeds the demand, we have a Buyers Market, which generally, lowers selling prices, and helps buyers, purchase more house, for less money! The economic theory of Supply and Demand, is extraordinarily, relevant, when it comes to real estate, and often, fluctuates, considerably, from time – to – time. Sometimes, this occurs, gradually, over a period of time, while at other times, it changes, dramatically, rather quickly. This is why, one must carefully evaluate and consider, pricing, not, merely, in terms of what has been, or what

Economics Factor You Should Consider Before Buying Home

While most potential home buyers, recognize, they need, to save for a down – payment, be prepared for repairs, etc, and afford the monthly costs of home ownership, many, either, ignore, fail to understand, or don’t consider, some of the other, relevant, economic considerations, for whether one, would benefit, by owning a home, of their own. Especially, when it comes to first – time, homeowners, the more they understand, and consider, the wiser, their decision – making process, might be. With that in mind, this article will attempt to briefly, review, consider, and discuss, 5 relevant, significant, economic considerations, for buying a house.

1. Tax deductions: Although, for many, especially, those in, so – called, high SALT states/ regions, the tax deductions, associated with home ownership, are less than they have traditionally been, there is still an, up – to $10,000 tax deduction, on one’s federal tax return, for the state and local taxes, we pay, Therefore, when we consider, whether, there are advantages, to buying, instead of renting, this must be factored in. If the net – numbers, of renting, versus, owning, are compared, and if they are close, home ownership often becomes more economically, advantageous, because of the appreciation, and equity, involved, in

Signs That Determine Real Estate Market

Many, often wonder, why, it is often, so challenging, to understand, predict, etc, many of the variables, involved, when it comes to the real estate market. Why are prices, so high, or low, or a buyers market, or sellers market? Why do some houses, sell, very quickly, while others, remain, unsold, for a seemingly, long period? What makes pricing fluctuate, etc? With that, and more, in mind, this article will attempt to briefly consider, review, and discuss, 6 factors, which often, determine, how the real estate markets, might perform, etc.

1. Supply and demand: Like so many economic issues and considerations, supply, and demand, often, is a major factor, in the performance of the housing market. When there are more buyers than sellers, we call this, a sellers market. When the scenario is reversed, it’s a buyers market. When there is balance between those seeking to buy, and sell, conditions are neutral. Many factors and considerations, go into, what market conditions, might be, including the overall economy, mortgage rates, tax laws, employment/ jobs, etc.

2. Economic strength/ employment: When potential homeowners feel comfortable and secure, in terms of their employment, presently, and for the foreseeable future, they proceed, with a mindset, which focuses on the possibilities!

3. Consumer

Place To Look For Minimizing Air Leak

If you wouldn’t purposely, throw money down the toilet, or out the window, why do so many homeowners, take the time and effort, to make their home, more energy – efficient, or, at least, less wasteful? The simplest, easiest, and least costly way, to achieve positive, relevant, realistic objectives, and thus, save money, and increase the level of comfort, within a house, is to locate, and then, minimize, air leaks. With that in mind, this article will attempt to briefly consider, examine, and discuss, 5 relatively simple places to start, and somewhat easy fixes.

1. Windows: Begin your review and examination, where a large amount of air leaks, and often, can be addressed! In many houses, energy, literally, is thrown, out the windows, because, either they are inefficient windows, or ineffectively sealed and installed. In the late 1970’s, President Jimmy Carter, recognized how wasteful this was, and enacted, tax credits, to encourage homeowners, to upgrade to better, more energy – efficient windows. If a house has older windows, it might make sense to address this, and replace them, because the Return on Investment (ROI) make sense, in most cases. In addition, testing, and identifying areas, where there are leaks, should be addressed and corrected.

2. Doors: Leaky

Guide Before Having A Home

Many consider, owning a home, of one’s own, to be a main element, in the so – called, American Dream. However, while, certainly, being a homeowner, is, for most, a desirable course and path, it is important, for potential homeowners, to proceed, with their eyes, wide – open, in order to be certain, they are ready for, and prepared, to OWN a house. Relevant considerations, often include, factors such as: financial ability; personal needs and priorities; specific area; local neighborhood; school system; convenience to transportation; safety – related issues; religious considerations (such as convenience to their desired, house of worship); shopping conveniences, etc. With that in mind, this article will attempt to briefly consider, examine, review, and discuss, using the mnemonic approach, some of the factors, one should evaluate, before assuming, both the benefits, and responsibilities, of home ownership.

1. Options; opportunities; orderly process: One must make the personal decision, when owning is for them, or if, they would be, more comfortable, renting. There are options, to consider, such as one’s personal comfort zone, whether they are comfortable taking – on, the associated responsibilities, financial, and one’s personal comfort zone, etc. Is having their own place, focused on the best personal opportunities, but, more dream,

Things You Should Ask When Hiring Realtor

The 5 most common questions to ask when hiring a REALTOR!

Selecting a real estate agent to assist in the largest financial transaction a person will likely ever make is a critical part of the home selling process. In a challenging economic environment where competition among real estate companies is on the rise, choosing the agent that’s right for you can be a confusing task.

Home sellers should start by interviewing several real estate agents to find someone with whom they “connect” with, However, chemistry is not the only variable to consider. The length of time an agent has been in the business, his or her home sale success rate and knowledge of the local market can also play a significant role in the decision-making process.

To jump-start, the conversation, try and ask these five essential questions home sellers should ask before selecting a REALTOR to represent them.

1. How long have you been in the real estate business and what has your success rate been in terms of home sales over the past 12 months? The length of time a real estate representative has been in the business and their home sale success rate demonstrates their knowledge and expertise in the industry. Ideally,

Tips To Hire Property Manager

Opting for property management for your house is a definitely good idea but remember it can be one of the most terrible things if you’re lacking the necessary information.

That being said, it is important for all to have the necessary information about management and the work of the property managers. This is an important part because it helps the property owners in deciding whether or not the manager they’re hiring is well suited to meet all their requirements.

Here is some information for you –

Property Management –

The process of operation, control, and oversight of real estate in the broadest terms are called property management. Management here indicates a need to be cared of, monitored, and answerability is given the property’s life and conditions. Including this, management of property also involves the management of personal property, equipment, tooling and other assets that are used in building, repairing, and maintain the end items deliverables.

Roles of the Property Management Agent –

  1. Setting The Property Purchase / Rental Amount – The first and foremost role that every manager or estate agency has to play is planning the cost of the property or the rental amount. This process would involve the property owner but should be done wisely

Secrets That Realtor Never Tell You

Buying or selling your house or any other kind of property is a big decision. All due to this, people never wish to do it alone, but in the association with an expert who has mighty experience in the process.

Real estate agents or realtors are such a people, group of people or even an organization performing this task on your behalf. They are the dedicated professionals, registered or unregistered, offering you all the assistance you need, whether to buy or sell a property.

And this is why it is necessary to consult a good, reputed and experienced real estate agent or firm only.

However, even when you consult the best one, there are a few things that the real estate agents do not tell their clients. Here is a list of these:

  1. First of all, you may not always need to hire a real estate agent to sell your house, especially if it is located at some plush location or is at a place that is yearned by many.
  2. Most of the real estate agents work on commissions. They may tell you that their commissions are fixed, but in reality, the commissions are always negotiable.
  3. And if you choose not to hire a real estate

Real Estate On Canada

In recent years, the Canadian government took action to cool the overheating real estate market by lowering the maximum amortization timeframe from 40 to 25 years for Canadian Mortgage and Housing Corporation (CMHC) insured homes. According to financial and real estate experts, this reduction was out of concern for Canadians burdened with too much debt and a housing bubble.

This reduction in the amortization period has not really cooled the housing market (in particular cities such as Toronto and Vancouver). In fact, it is still hot, hot, hot! With the Bank of Canada maintaining a one-percent interest rate, it is still fueling the desire for home ownership for first-time buyers and allowing others to trade-up on their existing home.

Traditionally in Canada, most mortgage terms with banks are five-year closed. Remember, that the first two or three years, a homeowner is mostly paying the interest on the mortgage. Now, there are opportunities to have one, or two-year mortgage terms, but in most cases it is five year closed. As the five-year term gets close to renewal, banks give the homeowner the opportunity to ‘shop around’ for better rates. On a side note, a homeowner can ‘shop’ at anytime during the five-year term,

Guide For First Time Homebuyers

Being a first-time homebuyer can be challenging to say the least, but realtors help demystify the process and help make sure you get the house that best fits your needs.

Determine Your Long-Term Goals

The first thing that most realtors would recommend you do is to determine your long-term goals and how owning a home will fit into those plans. You may be tired of spending your earnings on rent and would rather put your money toward something that could actually turn a profit down the road. Or, you may simply want to be your own landlord for a change. Whatever your goals may be, get a clear idea of them before you start shopping around.

Finding the Home You Want

Once you have committed yourself to becoming a homeowner, you can expect the process to be a bit chaotic. More than likely, you’ll make a lot of offers and get a great many counter-offers in return. But don’t be intimidated or allow yourself to get frustrated. A professional can walk you through each and every step so that you’re not overwhelmed.

Financing

You will more than likely have a wide range of financing options, even if you don’t have the best credit. You may be

Understanding Tiny Home Movement

The high cost of real estate has left many in search of alternatives to conventional homes that come at a more affordable price. The tiny home movement continues to grow in popularity, especially for those who are seeking to enjoy all the benefits of owning a house without the high costs and expenses usually associated with such an asset. Homes that have been specifically designed to be as small as possible without sacrificing comfort or utility have much to offer. These homes are designed to be highly mobile and offer the perfect solution for professionals whose career does not tie them to one specific location.

Unlike campers, trailers and conventional mobile homes that are often designed for either short term use or that offer limited quality and comfort, tine homes are designed for maximum efficiency. Houses that are rarely larger than a few hundred square feet can provide many of the environments and amenities that property owners would expect to find in a much larger structure. Eliminating any space that is not being utilized and making every effort to create the most efficient environment possible offers a way to pack a great deal of value into a very small package. Small

Characteristic That Realtor Should Have

When one makes the very significant difference, to attempt to sell his home, a very important, first – step, should be, to interview several potential agents, and hire the one, he believes, will best serve his personal needs, goals, and priorities. While it is obvious, perhaps, for most people, the objectives of a homeowner, are usually, getting the best, possible price, in the least amount of time, with the least degree of hassle/ stress. In order to have a better chance, to achieve one’s objectives, it’s important to realize, these 6 things, a real agent, should provide, to his clients.

1. Responsive: Seek, and hire, someone, who emphasizes and prioritizes, being responsive, in all aspects of his representation. How quickly does the agent, respond to, and reply, to telephone calls (return missed calls)? Play – act, with your prospective agent, to see, how they actually, set appointments, and ask, when the agent arrives (how far in advance). Will you representative, create the inspiring methods and techniques, to garner as many qualified showings, as possible? How quickly will he answer your questions and/ or concerns, and how thoroughly? Will he provide regularly, scheduled, updates, etc?

2. Fiduciary/ serve you: How will each individual,