Archive for January, 2014

HomeVestors Understands The Importance Of Rental Property Maintenance Over The Winter

Wednesday, January 29th, 2014

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Rental property owners need to stay up to date on maintenance during the winter months, as the season presents a number of hazards. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that real estate investors need to take extra steps in order to keep up their rental property maintenance during the winter months.  There are a number of things that can go wrong and rental property owners leave themselves open to lawsuit if they don’t handle maintenance in a timely manner.

In order to stay on top of rental property maintenance, an investor needs to remain active and shouldn’t get lazy during the winter.  While cold temperatures and bad weather give an investor a reason to sleep in, they need to understand that their rental requires their attention, if they wish to keep it operating at its best.

Those investors who have to deal with snow removal should make this their number one priority.  Rental property owners need to remove snow as it is falling in order to keep the property accessible to tenants.  Those who leave snow pile up in the parking area and the walkways are not only setting themselves up for a lawsuit, but they are not creating a favorable relationship with their tenants either.

Other rental property maintenance that needs to be performed involves making sure that the water pipes don’t end up freezing over.  Investors who properly insulate their water pipes shouldn’t have a problem, but this year, mother nature is bringing a bit more to the table.  When the temperatures are as cold as they are this year, a rental property investor needs to make sure that their water pipes are holding up properly.

While rental property maintenance is more demanding in the winter, an investor must still stay on top of typical maintenance around the property.  Don’t neglect the common, everyday maintenance that must still be performed.  Keeping a property attractive to tenants is an absolute must in order hang onto long-term tenants.  Consider placing a ‘to do list’ on every tenant’s door that they can fill out with any necessary maintenance that needs to be completed.  This will keep the property in better shape and maintain a positive relationship with tenants.

Investors should leave an emergency fund for dealing with surprise rental property maintenance in the winter.  If the furnace happens to go out, an investor must deal with the issue promptly and needs to have the necessary capital on hand to do so.

Investors who understand the importance of rental property maintenance in the winter should do what they can to stay on top of it.

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.

HomeVestors Knows Where Real Estate Investors Can Profit

Friday, January 24th, 2014

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There are certain locations around the country that are profitable to invest in.  Those who have done their research are bound to find an area that meets their needs. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that real estate investors need to be up to date on the best locations to invest in.  Those who do their research are bound to find that some areas of the country stand out and enable an investor to profit to the greatest degree.

When real estate investors look for the most profitable investment, they need to first look at the entire country as a whole.  Those who individually analyze popular regions are bound to find a place that is favorable to an investor.  Those who are able to predict an area’s future are the ones who are able to make the most from their investment.

The areas of the country that are increasing in popularity from an investor’s standpoint meet a few different qualifications.  They generally have an increase in population due to a strong employment sector.  Real estate investors who invest in an area that has a number of profitable industries are bound to find an area that should remain strong throughout the next couple of years.

While there are a number of regions where real estate investors can profit, certain areas stand out over the rest.  Those investors who invest in the Phoenix, AZ area, especially in the Mesa and Scottsdale markets are likely to capitalize on the pursuit.  The Phoenix metropolitan area is increasing in population and there is demand for both commercial and residential real estate.  The level of new construction in the Phoenix area exceeds the national average and investors have a number of real estate options to choose from.

Another area of the country where real estate investors can profit is the Fort Worth, TX and Arlington, TX area.  These locations are increasing in population at a steady rate and there are a number of jobs in the area.  Investors who understand the profitability of real estate here should pursue an investment before the market excels even more.

Another area of Texas where real estate investors should consider investing is the Dallas, Plano and Irving regions.  These locations are seeing a substantial increase in both industry and population expansion.  Consider the benefits of investing in these regions and find a property quickly.

Real estate investors who take the time to do market research are bound to find an area of the country that enables them to profit to the greatest degree.

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.

HomeVestors Knows The Steps To Buying A Real Estate Investment

Friday, January 17th, 2014

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Investors who understand the steps to purchasing a property should be aware of everything that goes into the pursuit. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that there are certain steps to buying a real estate investment that all investors need to consider before they possess their investment.  Those who are aware of the process should use it to their advantage when performing due diligence.

There are many steps to buying a real estate investment and those who understand what is expected of them throughout this process are bound to find the investment that meets their needs.  While the process of purchasing real estate doesn’t have to be complicated, investors who take a step-by-step approach don’t end up getting ahead of themselves.

The first two steps to buying a real estate investment involves finding a profitable property and making an offer after determining that a property meets their needs.  These two steps should take up most of an investor’s time, as this research is necessary to find the best property on the market.  Investors should consider touring hundreds of properties before choosing one, if they wish to get a full overview of the market.

While there are numerous steps to buying a real estate investment between finding a property and making an offer, we will go over a few of them here.  Investors need to obtain the correct paper work from a seller and should possess a disclosure document in order to have a good understanding of potential problems.  Sellers should also present any receipts for home improvement projects and possess the paper work that determines that this has been performed up to code.  Sellers should also have paper work with a professional home appraisal in order to place some backing behind their asking price.

At this point, the next two steps to buying a real estate investment involve obtaining a professional home inspection and setting up a mortgage with the bank.  If a house passes a professional inspection, work with the bank in order to secure the property.  Investors now need to close the deal and should have a good idea of what will be expected of them.  Investors should take advantage of their final walk through in order to determine that a house is in acceptable shape and sign off on the deal.

Those investors who are aware of the steps to buying a real estate investment should use them to their advantage.

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.

HomeVestors Knows That Las Vegas Real Estate Is Likely To Decrease In Value

Friday, January 10th, 2014

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As soon as states legalize gambling in its entirety, expect that real estate in Las Vegas will decrease in value, as the city is based almost exclusively on this industry. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that investing in Las Vegas real estate may not be the best idea, as there are questions over the city’s future.  The truth is that many people aren’t willing to travel thousands of miles to play a little poker and watch a few shows when they can do it right in their home city and online.

While Las Vegas real estate has increased in value over the course of 2013, it still has a long way to go before getting back to where it was.  Many investors have been investing in Las Vegas over the course of the last couple of years because the price of real estate was extremely inexpensive.  These investors planned on significant increases in property value over the next couple of years, but the question regarding whether or not they will receive it, remains to be determined.

The reason Las Vegas exists is due to its gambling industry and any competition that it has in this regard is likely to put a damper on its housing market.  Lately, new changes in federal and state law have changed the rules regarding gambling.  Three states have currently made gambling, online and off, legal and many are expected to follow suit.

The goal is to make gambling regulated by each state and earn taxes off of the proceeds.  The United States realizes that they can earn a solid stream of tax dollars if they make gambling legal.  This will also take funds away from unregulated gambling houses and put the power back into the hands of the government.  As soon as these new laws are passed through Congress, expect that Las Vegas real estate will tumble even further.

Investors who critically analyze an area will think about all the factors that go into its success and failure.  If an industry is threatened, such as the gambling industry in Las Vegas, avoid getting involved in the market.  Those who stay away from Las Vegas real estate are bound to be glad they did, assuming that all states legalize gambling and property values tank in the next couple of years.

Think twice before investing in Las Vegas real estate, as they are losing their grip on the gambling industry.

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.

HomeVestors Knows That Screening Tenants For Rental Property Is Necessary

Wednesday, January 8th, 2014

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Investors who do what they can to find the best tenants on the market subject prospective individuals to a mandatory screening process. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that screening rental property tenants is the best way to reduce problems and increase positive cash flow.  While the screening process is tedious, it is a necessary pursuit for investors who want the best tenants on the market.

When screening tenants for rental property remember the 80/20 rule, which states that 80% of problems are going to be caused by 20% of the tenants.  Those who do what they can to avoid renting to this 20% will likely have a property with reduced problems and tenants who pay their rent on time.  Take time when choosing tenants because getting rid of bad tenants is a headache.

When screening tenants for rental property, begin the process by prequalifying applicants through a simple phone interview.  Ask them a few questions and decide at that point whether they are a good fit for the property.  For instance, if having pets is a violation of this rental, ask them if they have any.  If so, meeting with this tenant is unnecessary and both individuals don’t end up wasting any time.

The next step of screening tenants for rental property involves meeting with them in person and showing the property.  At this point, many rental property owners check IDs to make sure that they are talking to the person who is actually renting the apartment.  Give these individuals an application and inform them about the fee for the credit check.  Those who insist on not paying this fee can easily be written off, as they are likely hiding something.

When screening tenants for rental property, go through their application and make sure that they have a decent rental history.  Then, check their employment and find out if they have a steady income.  Finally, check their credit history and make sure that they have a history of paying their bills on time.  Those tenants who appear to fit the bill and aren’t trying to hide anything should be the first on the list.  At this point, collect the security deposit, the first month’s rent and consider collecting the last month’s rent as well.  This will ensure that a tenant is likely to be able to pay the rent each and every month.

Those who understand the advantages to screening tenants for rental property are bound to have fewer problems and more positive cash flow.

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.