Archive for June, 2012

HomeVestors says Vacation Rentals have Their Own Set of Problems

Thursday, June 28th, 2012

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Before investing in one, real estate investors need to take these into consideration.

Dallas, Texas –HomeVestors has spent the last fifteen years working in the real estate industry. During that time, they worked with investment properties of every size, shape, and type. After talking to multiple homeowners and real estate investors, they learned that vacation rentals are easy, but they come with their own set of considerations.

Vacation rentals are generally short term rentals. People are getting away for a night, tow, or even ten. The money available in vacation rentals is wonderful. Within just a few nights, an investor can make enough to pay for the mortgage on the property.

Where the problems happen involves the mixture of family, time, and property management. If the property is the same one an investor lives in, other accommodations will have to be arranged for the family whenever guests are using the property. If the property is a bed and breakfast, the family will have to be around the guests. This means they will have to either have a special place to go to play and relax that is off limits to guests or be used to being around strangers.

Running vacation rentals takes a lot of time. Guests will expect everything to be provided and ready for them. The place will need to be cleaned regularly, and clean towels and sheets will be needed every day. At a bed and breakfast, breakfast will have to be prepared each morning. Guests will expect superb service at all hours of the day.

Having a family and running vacation rentals can be quite a challenge. There will have to be some time set aside specifically for the running of the business. The paperwork work, hiring of staff, management and maintenance of the property should be taken care of during that specified time. There will also have to be a clear line that defines what the family’s time is. Without this defining line, having a healthy work and personal life is not possible.

Management, time, and family make vacation rentals a perplexing real estate investment. Before taking them on, investors should make sure they have thought about all of the requirements involved in taking one on.

HomeVestors Says Going Green Will Save Investors Green

Wednesday, June 27th, 2012

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HomeVestors has made a living out of purchasing as is properties, renovating them, and putting them on the market as rentals or homes for sale. After 15 years in the real estate industry, they have learned a from real estate investors. With the crazy stock market, wild real estate market, and roller coaster unemployment numbers, it is in the real estate investor’s best interests to buy and make ecofriendly existing homes and real estate investment properties.

Technology has rapidly developed within the last 10 years. As a result, most properties older than 2000 lack a lot of the features that can cut energy costs substantially. Tankless water heaters are one investment that will cut monthly bills in half. There is no electricity or gas wasted to keep reserved water heated to a set temperature. When the water is needed, the water heater instantly heats it to the set temperature and releases it into the pipes.

Another major ecofriendly change is to upgrade all appliances to energy star ones. Microwaves, fridges, freezers, stoves, ovens, TVs, DVD players, etc. all use lots of energy. Changing to energy star rated appliances reduces the amount of electricity consumed by the household. With investment properties, this can cut back greatly on the monthly expenses.

Lights are one of the largest energy consumers in the home. Since well-lit homes are preferred, real estate investors need to consider a few options. The first is the change all light bulbs to CFL or LED bulbs. They offer cool lighting without costing an arm and leg. Each bulb reduces energy costs by $25-75 a year. Real estate investors also need to take advantage of natural light provided by installing extra windows and skylights. During the day, this will cut back greatly on the amount of lights used. In the evening, small lamps and track lighting on dimmer switched can be used to provide ample lighting as well as set the mood.

Windows have come a long way as well in the last decade or two. Now they are available with easier casings and openings, in case an investor prefers to air out his houses. In addition, the double paned windows offer an extra gas layer between the panes that helps to insulate against the cold and heat better.

It seems crazy, but real estate investors will actually make money over time by taking on these ecofriendly tips in their investment properties.

Homevestors Encourages Sellers to Reach Out to the Untapped Market of Young People

Wednesday, June 27th, 2012

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Homevestors is the nation’s most successful real estate franchise company.  Working hand in hand with independent franchisees, thousands of homes are purchased, remodeled and successfully sold each year.  Despite national statistics that there is a downward trend in home investments by younger people, there is new data suggesting the American dream of owning a home is rising in popularity.

 

Since 1980 there has been a 10% drop in home ownership by people between 25 and 34 years old nationally.  Of course, the biggest obstacle for many young prospective home buyers is the unavailability of jobs. For employed young Americans, however, the biggest factor in preventing young people from buying is debt related to their education.   The average graduating college student in 2010 remains burdened with $25,230 in student loans.  This outrageous amount is an enormous depressor of credit ratings.    There is good news though; Congress is close to a deal that would maintain low interest rates on college loans at least through mid 2013.

 

Education is key to convincing young people that homeownership is an attainable and desirable goal.  Disseminating information on how to improve credit ratings, most effective ways to save for a down payment and market conditions currently and in the future can prepare young people for the challenges of the home purchasing process.

 

Communicate to young people the extraordinary undervaluation of the housing market.   Home prices have reached lows unseen in decades. Homebuyers with decent credit and steady employment can receive mortgage rates as low 4% and only put down 3% down payment.   And there are once in a lifetime deals from many lending institutions like Freddie and Fannie Mae.  Washington Mutual now offers to incorporate the mortgage insurance costs into the interest costs, making it tax deductible for first time home buyers. Young people who believe that homeownership is a losing investment, need to know that real estate remains one of the soundest investments available.

 

There is also the added element of time.  Although the business climate is extremely buyer friendly, expect changes soon.  In many metropolitan areas, home prices are experiencing significant upticks.  The northeast and the south experienced huge sales increases in the first part of the year.  Atlanta realtors expect a 30% increase in sales for June.  MIami, Tampa, Las Vegas and Phoenix have seen significant single family home price increases.

HomeVestors Says Investors Must Give a Little Extra to Get a Little More

Tuesday, June 26th, 2012

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HomeVestors has spent the last 15 years buying and selling as is homes. After 50,000 properties and a ton of real estate investors and homeowners, they have learned a lot about the real estate industry. One of the most important things they have learned is sometimes real estate investors have to pay more for a property to get a little more out of it.

Very few homeowners  ever experience the exact same situation. However when they are read to sell, they want out of their home fast. This opens up a lot of opportunities for real estate investors to make offers. The first thought of most real estate investors is to offer the lowest price possible and see if they take it. That is not always the best practice.

There are times when the homes needing to be sold are in perfect condition. They have been updated and need no renovations. They are move-in ready. Offering a low ball offer is sure to anger the homeowner and get the offer thrown out. It does not ensure an acceptance or counteroffer at all.

These move-in ready houses are wonderful for real estate investment properties. The investor has to do nothing to get it ready to rent. This saves a lot of extra money up front. The investor can immediately put it on the market and accept renters, which shortens the amount of time the home sits before it is rented out.

Offering more isn’t always available to the real estate investor if the entire amount is needed upfront. As an alternative to traditional financing, an investor could offer the fills price, but ask for a lease to own, subject-to, or seller financing option. This allows the investor to pay the full amount over time for the property. Since the property is to be rented, chances are the rental rate will provide more than enough to cover the mortgage payment, insurance, and property taxes and still allow for the real estate investor to make a profit each month.  The profit can be saved to pay off the loan faster, spent as salary for the investor, or reinvested in the business.

Full price may seem as extreme as a low ball offer, but over time it can actually pay the real estate investor more.

Diversification and Real Estate Niches

Thursday, June 21st, 2012

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Everyone knows you aren’t supposed to stick all of your eggs in one basket. This is very important for real estate investors. Solely investing in one type of property severely limits your chances of continued success as the real estate market shifts. Many investors found this out with the most recent real estate bubble burst. However, having too many types of investments makes it extremely more difficult to manage and maintain your investment portfolio on your own.

Most beginning investors will choose to find a niche or a target area to focus on. It prevents the investor from spreading himself too thin. This is a great strategy as long as the investor remembers to add at least one other type of investment property to the mixture. This way he is not limiting his options for future success.

The majority of real estate investment opportunities fall into one of three categories. These are cash flow, equity and appreciation, and assignments.

Cash flow includes all of the real estate investments that create regular monthly income for you. These include rental houses, lease to owns, apartments, vacation rentals, short term rentals, etc. The advantages to cash flow investments are they bring immediate monetary sources to the scene and continue to do so over time. The rate of return on the investment is determined by how high the rent is set and how much the is left over after the mortgage and other property expenses are paid. The better news is rental properties can eventually be sold once, especially after they have appreciated.

Equity and appreciation are two separate items that involve property that is purchased and held onto. Equity is the amount that the home is worth that is greater than the amount owed on the home. Appreciation is when the property value of the home or other type of property increases. This can happen slowly over time or very quickly with renovations. Examples of this type of real estate include vacant property, prebuilt construction areas,  pre-foreclosures, residential properties, and commercial properties.

Assignments are a scary part of real estate. In this controversial type of investment, a real estate investor finds a property and before he buys it, he finds another buyer to buy it from him for slightly more than the original amount. The investor pockets the assignment fee or difference in values. Legally, the investor is supposed to inform the seller of his intentions before he makes the offer. However, this very rarely happens.

Find your niche and you will see your profits grow. For more information on real estate investing, call or visit us today at HomeVestorsfranchise.com. We have a vast array of real estate investment and real estate franchise opportunities available. Come let us help you grow your real estate business.

Real Estate Investor Killers

Tuesday, June 19th, 2012

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In this day and age, it is hard to believe that there are things that will keep business owners from being successful. When it comes to real estate investing, there are a few that still seem to sneak in and complicate almost every business decision.

The first one is not having a good mentor. An experienced individual in your niche and preferably in your area will be able to help you avoid major beginner mistakes. In addition, they will help you to focus your real estate investing goals and hold you accountable for reaching those goals. Good ones will not hold you back, but they will help you to figure out if something is a good decision or a wise investment.

The second success killer is an absence of knowledge and experience in the industry. Over time you will gain experience, and your mentor will be able to help you with some of the information you need. However, neither makes up for a sound background and understanding of investment and real estate. Find good books. Ask your mentor for recommendations. Just make sure you are getting sound, usable advice.

The third major obstacle for real estate investors is belief in themselves. It takes a lot of courage to make a bold move, like investing thousands of dollars you can’t afford to spend. However, it is a good move if you believe it is. There is hard work involved, and it may be tight for a little while. However, if you really want to do it, your belief in yourself will make you successful.

The fourth challenge for investors is getting motivated and off the couch. It is one thing to declare yourself a real estate investor. It is another thing entirely to do the work required to do the job. Reward yourself for small goals completed. Take the weekend off after a successful sale. Find what it is you love and use that as a way of getting yourself into action. After all, investment houses aren’t going to walk up and say, “Buy and sell me please…” You will have to stay motivated while looking for places, making offers, doing the renovations, and praying you find a buyer or renter.

Real estate investing doesn’t have to be hard. It does require a good mentor, strong belief, and hard work. For more information on real estate investing, call or visit us today at HomeVestorsfranchise.com. We have a large assortment of real estate franchises as well as real estate investment opportunities available. Call or visit us today to see how we can help you grow your real estate business.

HomeVestors says Real Estate Investor Beware

Monday, June 11th, 2012

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HomeVestors has maneuvered the ins and outs of the real estate industry over the last fifteen years. During that time period, they have purchased over 50,000 real estate investment properties, and they have helped countless numbers of real estate investors grow their real estate businesses.  HomeVestors has learned that it is the small, simple things that get overlooked and cause real estate investors troubles. However, real estate investors can be proactive and avoid many of these little problems.

Most real estate investors know that mentors are good references. However, an experienced can help beginners to avoid major beginner mistakes. Mentors can explain confusing areas, help keep investors focused on real estate investing goals, and hold their mentees accountable for reaching those goals. The best part is a good mentor will be there to bounce ideas off of and help inexperienced investors figure out if something is a good decision or a wise investment.

Education and experience teach investors an insurmountable amount of knowledge. Workshops, books, and classes will help with the knowledge of the industry. A good mentor will give investors the benefit of all of their experience. The combination of the mentor’s experiences and the information from the educational experiences will help real estate investors better navigate the real estate investment waters.

Being bold and believing in oneself is a major obstacle that is easily avoided. It simple takes making one good decision after another. Having great counsel makes this step easier, but it is never completely easy. Investing multiple thousands of dollars is a huge gamble. Do the due diligence, ask others for their opinions, and then step out in the right direction.

Get up and get going! Real estate investors find it too easy to sit around thinking, planning, or doing nothing. Unfortunately, nothing is going to happen by doing those things. By getting up and getting moving at least real estate investors are in action. They are more likely to find people that need to buy or sell a property. Potential private investors are going to make connections with them. The starts of real estate investing success are going to happen.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level  of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

Real Estate Investing without the Sweat

Friday, June 8th, 2012

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People talk about making millions in real estate without having to put in a lot of time and effort. Those numbers are usually greatly exaggerated. However, there are other options for real estate Investors that do involve very minimal time and effort investment. The least time consuming of all of these is the real estate note.

A real estate note is an agreement for an individual or business to make payments to pay off a real estate transaction. The indebted person makes monthly payments to the holder of the note. Normally,   the note holder uses the money as incoming cash flow. However, there are occasions when the entire balance due on the note is needed. The holder of the note may choose to sell the note instead.

A real estate investor may choose to purchase these real estate notes for the full balance on the note. This is considered a fair and equitable trade. However, an investor can purchase some notes for less than the amount owe3d on them. In some cases, it can be for as little as $.40 cents per dollar owed. These notes are usually low or non performing notes, new notes, or loan pools. The amount of profit the real estate investor receives is the difference between the amount he pays for the note and the amount that the investor receives to pay off the note.

If you are considering purchasing a real estate note, make sure it has the following information.

The note should always have listed the amount of the note, as well as the amount of the Unpaid Principal Balance. This allows the investor to see how much has been paid, how much is left, and the likelihood the debt will be repaid.

The next items to look for are the location of the property and the property type. If you had to foreclose on the property due to lack of payment, it is important to know where the property is and what kind of home you are looking for.

In addition, the real estate note should also include any commission, payment terms, due diligence and closing periods, as well as any exit strategy. These are important factors that indicate a healthy, upfront investment. If the numbers line up well, the real estate note would be a great investment opportunity.

For more information on real estate investing, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over fifteen years in the real estate industry. Our company has a vast array of real estate investments as well as real estate franchise opportunities. Call or visit us today to see how we can help you grow your real estate investment business.

Credit Scores Are Important for Investors Too

Thursday, June 7th, 2012

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Real estate investing doesn’t have to be difficult. However, finding financing for it can be quite a challenge. There are many other avenues for financing besides the traditional routes. Those are also made easier by one thing…a decent credit score. If you are a real estate investor, it may be time for you to discover what your credit score is and what is written in your credit report.

Why should investor’s research their credit score and report? These are the two most crucial pieces of information that public and private lenders use to determine your credit worthiness. It is used to double check your personal history as well as how responsible you are for repaying your debts. As highly regarded as these pieces of information are, they are not infallible. This means it is up to the individual to check to make sure the information is correct.

There are three major credit bureaus that must be checked for discrepancies. The one most companies use is Equifax, but the other two Transunion and Experian are just as important. These bureaus keep track of all previous aliases, addresses, and phone numbers as well as your history of open and closed accounts and your payment history. Most payment information drops off after three years, but items such as defaulted accounts, foreclosures, and bankruptcies can last as long as ten years.

If there are discrepancies on your reports, the good news is they can be corrected. All three bureaus can be accessed online. Once you view your report online, you can immediately notify them of any problems. Sometimes, it is as simple as removing addresses and phone numbers associated with your name that have never been yours. In other cases, the may be accounts that got associated with your name that are not yours. Verifying this information also gives you the chance to catch any identity theft before it becomes a major problem for you, your family, and your business.

Once you report any problems, the agency may take up to six weeks to investigate the facts. Usually, you will be notified of the bureaus findings and resulting actions. An interesting tidbit, if the credit bureau fails to take action within thirty days regarding the discrepancy, the information must legally be removed from your credit report.

Your credit is one of the most valuable tools an individual has at their disposal. Take care of it by paying your bills on time every month. A good credit score makes financing future real estate investments much easier. For more information on real estate investing, call or visit us today at Homevestorsfranchise.com. We are the nation’s number one home buying franchise. We have a large assortment of real estate franchise and real estate investment opportunities available. Call or visit us to see how we can help you grow your real estate business.

Knowledge is a Key Factor to Real Estate Investment Success

Monday, June 4th, 2012

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Real estate investors are always trying to figure out how to be more successful. Some will spend thousands of dollars for quick tips and how- to’s.  Webinars, workshops, and classes can be very informative. Mentors, associations, and organization can also help to provide the information you need to be successful. However, there are ways to find out this knowledge without spending excessive amounts of money. The way to stay ahead of the real estate market is to know how the market currently stands and where it is going in the future.

Knowing the current market allows real estate investors to judge how they stand within the current market. How are their investments doing? Should they hold on to investments or sell them for a decent profit? This information is usually easy to find. In the newspapers and on the internet, there are always reviews of how the market is doing.

Although the current conditions tell you a lot, having a picture of the real estate market in the future helps to guide investors a little easier down the road to success. The good news the majority of the information needed to predict where the real estate market will be in the future can be accessed on the internet. Most of it can be found by through the Google search engine.

In order to predict the future, investors should be closely monitoring the real estate industry, identifying major players in the local market, and the state of the local economy. Next, investors should keep tabs on the state of the world’s economy. It has a dramatic impact on the legislation that is passed as well as the supply and demand for housing.

A successful real estate investor will spend a couple hours a week studying. There are a ton of websites that can provide information on these topics. Investing hours looking up the local and global real estate market and economy will help investors plan ahead for a more successful future.

Real estate investing isn’t difficult as long as the work is put into it to gain the right knowledge. For more information on real estate investing, call or visit us today at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years of experience buying and selling as is properties. We have a large assortment of real estate investments and real estate franchise opportunities available. Come and see how we can help you grow your real estate business.