Archive for February, 2014

Whether Or Not To Hire A Property Management Company

Monday, February 24th, 2014

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Real estate investors who have purchased a rental property with the intent of managing the daily operations should understand what they are undertaking before committing to the pursuit.  Investors who realize that they will likely be unclogging toilets at 3:00 in the morning might think twice about their business plan and hire a property management company instead.

Investors who are on the fence about whether they want to hire a property management company need to think about their goals.  Those who are willing to put in all their free time taking care of a property and tenant needs should know that they have their work cut out for them.  While investors who own small properties can generally handle the management duties with little difficulty, those who have large scale apartment complexes are likely going to have to employ the services of a property management company.

Those investors who don’t want to hire a property management company need to have a good reason for this decision.  Most investors simply don’t want to spend the money on a property management company, but should understand that the time they will have to spend on the property is worth something.  Investors who value their time usually end up choosing to work with a property management company for this reason alone.

When looking to hire a property management company, it is important to interview numerous companies before choosing one in order to find one that meets the needs of an investor.  Ask each company about their experience in the field and the fees they charge.  Only choose to work with a company that has many years of experience and a large list of testimonials.  When asking these companies about their rates, it is important to find out if they have any hidden fees, as well.

Another way to find out about the reputation of a property management company is to read reviews about them online and talk to fellow rental property owners.  While online reviews can be manipulated, rental property owners will likely be willing to offer their honest feedback and inform an investor what they like and don’t like about their current company.  This can help an investor obtain a real world look at each property management company in the area and decide which one is likely to contribute to a successful rental.

Investors who hire a property management company are usually glad they did, as they can detach from the property and let professionals handle the day-to-day operations.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

How To Find Homeowners Who Want To Sell A House For Less Than Market Value

Wednesday, February 12th, 2014

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The process of finding sellers who want to sell a house for less than market value is a difficult pursuit, but real estate investors must be able to accomplish this if they wish to earn a living in the field.  Most beginning investors aren’t able to find these individuals and end up giving up on real estate.  Investors who take the time to learn how to find desperate sellers can capitalize on their knowledge and will find that they have more than enough business.

Homeowners who want to sell a house for less than market value are everywhere, but they don’t generally advertise this.  Investors who have a good idea on how to find these individuals know that there are a number of different approaches to take.  Investors can set up passive advertising strategies or actively search for these sellers.

The most common passive advertising strategy in order to find those who want to sell a house for less than market value is to place ads in the newspaper and online that call out to desperate sellers.  An ad that reads, “Want cash for your house?” is one way to get desperate sellers to initiate contact.  While these ads work, those who are more aggressive in their search for desperate sellers are bound to come out ahead.

Some aggressive marketing strategies in order to find homeowners who want to sell a house for less than market value is to directly approach them in some way.  In order to do this, investors must profile homeowners who typically want to sell their house quickly.  Those who search for homeowners who recently inherited a house or those who are behind on their taxes are likely to find that a few of these individuals need to sell their house fast.

Another way to find those who want to sell a house for less than market value is to look for houses that are abandoned or those that appear to be in rough, but fixable shape.  While only rehab investors would search for such a house, many of these houses can be purchased for pennies on the dollar.  These homeowners generally want to sell their house and don’t want to be bothered by paying taxes on such a property.  Investors should quickly make a low offer and see how desperate a seller is.

Investors who are able to find homeowners who are willing to sell a house for less than market value are able to make a living in the business.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Investing In Real Estate Is One Of The Best Investments

Wednesday, February 12th, 2014

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Investing in real estate is one of the best investments for those who do their due diligence.  The key is to find an area that is likely to increase in prosperity over the course of the investment.  Those who can do that then need to focus on finding a property that is bound to increase in prosperity over time, preferably one that collects a positive cash flow.  While there are many different investments on the market, real estate is one of the oldest and most sought after.

Those who are deciding whether investing in real estate is the right choice should think about the advantages that it has.  First, real estate is a tangible investment that will likely not drop to a value of zero.  Real estate has historically increased in value and those who are collecting rent money can take full advantage of their investment.

Investing in real estate is also attractive because the investment can be leveraged, for those who have the credit rating to do so.  There aren’t many other investments on the market where one can borrow the majority of the capital in order to purchase the investment.  Even investors who have the liquid capital to purchase real estate investments often opt to obtain a mortgage.  By doing this, they can hang onto their liquid capital and use it to their advantage.

Of course, like any investment, there are some drawbacks to owning investment property, like the amount of time it generally takes to sell a property.  Investors who want to sell their property quickly might end up having to sell it for less than they should have.  This is generally not a problem for most investors because they are willing to wait until the best time to sell and wait until the right buyer comes around.

Those who are investing in real estate also need to take into account that this investment requires constant upkeep.  Those who have purchased rental property are either at the whim of their investment or are paying a property management company to ensure that the property remains in shape.

All in all, investing in real estate is generally for those who have a long-term approach to earning money.  Those who leverage their capital and put effort into their investment are bound to find that they are able to profit in the industry.

Those who are considering investing in real estate should understand the advantages for doing so.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Make An Offer On A House That Sellers Can’t Refuse

Wednesday, February 12th, 2014

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Investors who understand how to make an offer on a house that will peak the interest of homeowners will be able to find an investment property that meets their needs.  When making an offer, it is important to be well liked and keep it simple.  Sellers want to work with those who make the process easy and straightforward so investors need to work within these constraints.  Sellers also want to work with those who have proven that they have a track record for success.  Investors who can put a seller at ease are bound to be able to close the sale quickly.

In order to make an offer on a house that is likely to be accepted, offer cash.  Cash is still king and while many sellers will accept a decent offer that includes financing, some sellers will have a problem turning down a cold hard cash offer.  When financing becomes involved in the deal, problems can result and make a good deal go sour.  Since sellers have to wait a longer period of time and deal with banking regulations, many will accept a cash offer, even if it is significantly below an offer based on financing.

Those investors who don’t have cash at their disposal should use paperwork to back up their position when making an offer on a house.  Sellers who receive a cover letter from an investor along with approval of bank financing and a long list of testimonials will be convinced that this individual will be able to push the sale through without a hitch.  Sellers are looking for the easiest way to sell their house, without having to worry about problems.  Investors who are able to convince a seller that they are serious about purchasing a house in a quick manner are bound put them at ease.

Those who make an offer on a house should make the offer time contingent.  For instance, give a seller a period of time where they can decide whether or not to accept an offer.  This will give them more incentive to act quickly and move forward with the sale.  An investor who gives a cash offer that is only good for three days will likely get a seller’s heart pumping with adrenaline.  These sellers are more likely to close on the sale when they only have a limited time to act.

Investors who make an offer on a house that a seller can’t refuse are likely to find a deal quickly.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Negotiating A Real Estate Deal Requires Investors To Possess A Number Of Attributes

Wednesday, February 12th, 2014

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There are many factors that go into negotiating a real estate deal.  Those investors who have perfected the art are likely to end up with a good investment property on their hands.  When negotiating, investors need to do what they can to make sure that the process suits both party’s needs and results in a deal.  When negotiating, it is important to have an authoritative presence, consistency, testimonials, and be likeable.

When negotiating a real estate deal, the most important factor is to be likeable.  Nobody wants to work with someone who is pushy and disrespectful.  Investors who are able to present their case, while remaining agreeable are able to convince sellers to complete the deal.  Go to the length of the earth to maintain a smile and listen to a seller’s needs.  Those who do this will likely find a way to satisfy a seller’s desires while securing an investment property.

It is essential to have an authoritative presence when negotiating a real estate deal.  Sellers only want to work with an investor who knows what they are doing.  Investors who understand the business and localized market shouldn’t have a problem displaying their knowledge base.  Put a seller’s fears at ease and ensure them that they are working with a professional.

When negotiating a real estate deal, remain consistent throughout the process.  Investors who have a specific reason for only being able to offer a certain price for a property need to continue to reiterate this fact.  For example, an investor who can only pay a certain price due to specific problems with a property should continue to point this out when validating their price.

When negotiating a real estate deal, use testimonials in order to create value.  Bring up the fact that a number of other sellers were happy with their transaction in order to give a seller the confidence to go through with the sale.

In order to close the deal, offer to help a seller with a particular problem that they might have.  Sellers who want to sell their house, but don’t have room to store their belongings might be hesitant to sell it on a short notice.  Investors should offer to help them move and rent out a storage unit or assist them in some way in order to win them over, while solving their dilemma.

Investors who understand the process of negotiating a real estate deal should be able to find an investment property that suits their needs.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

HomeVestors Encourages Investors To Consider The Northeast Ohio Commercial Market

Wednesday, February 12th, 2014

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The Northeast Ohio region is finding that its commercial sector is springing to life.  Investors should capitalize on property here, if they wish to earn a profit. 

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 investors should consider what the Northeast Ohio commercial market is offering them.  After a couple years of reduced economic activity, the Northeast Ohio region is bouncing back in a big way.  Those investors who understand the benefit of investing here are likely to find an investment that meets their needs.

The Northeast Ohio commercial market is a region that has been avoided by investors for the last couple of years, but is now springing back to life.  Those investors who rush to find their place in this market are bound to earn a profit over the next couple of years.  While most regions in the Midwest are still struggling, an increase in industry in the Northeast Ohio region have given many a reason to move to the area.

The Northeast Ohio commercial market had 11% more sales in 2013 than 2012 and is likely to see even greater improvements in 2014.  As this area increases in popularity, many deals are coming to fruition and major companies are thinking about setting up their business in the region.  Investors who are able to purchase commercial property before these deals become public will likely be able to ride the wave of success.

Another nice thing for those who want to invest in the Northeast Ohio commercial market is that lenders are bound to be more willing to work with borrowers.  Those investors who were unable to obtain a loan in the past might now be approved.  This can give motivated investors who don’t have excellent credit a chance to enter the field and capitalize on the pursuit.

The current Northeast Ohio commercial market is mostly retail, at 43% of the volume.  Another 22% of the commercial market is apartments and investors should consider this niche, as their best way to earn a living in the field.  As soon as more industry comes to the area, the need for housing will skyrocket.  Those who have large-scale apartment complexes will be able to capitalize on the increasing demand in the area.  Not only will the value of these apartment complexes increase, but the rental rates will increase as well.

Those who research the Northeast Ohio commercial market are bound to find that the area meets their investment needs.

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 How To Pick Real Estate Rehab Contractors

Wednesday, February 12th, 2014

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Before selecting a rehab contractor, do a bit of research and ask them questions regarding the way they run their business. 

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 who deal with rehab contractors need to know whom they are working with before signing a contract.  There are a number of questions real estate investors should ask real estate rehab contractors in order to get a good idea for how they conduct their business.

Real estate rehab contractors need to be examined with scrutiny before giving them full reign over a construction project.  Investors who take the time to interview numerous contractors will likely end up working with the best on the market.  After asking a series of questions, make sure to verify all the information provided in order to make sure that a contractor is legit.

The first question to ask real estate rehab contractors is whether or not they are licensed.  Any professional is going to be in possession of such documentation and only those who have a license should be considered.  Follow this question with whether they have insurance and through what company.  This will ensure that if anything goes wrong, it will be properly covered.

In order to pick the best real estate rehab contractors make sure that they have years of experience in the business.  Only choose to work with rehab contractors that have 5 years or more experience, as they have proven themselves in the business.  Next, ask real estate rehab contractors how many people are on their team.  While it is ok to work with just one individual when contracting out a small project, big projects will require a team effort.

In order to verify customer satisfaction, ask real estate rehab contractors for references of past projects.  Contact these references and make sure that they were satisfied with the completed project.  Ask a contractor whether they offer written warranties.  Many of the good companies will be willing to guarantee their work and working with these companies will ensure a peace of mind.

Find out where real estate rehab contractors do their business and visit their office.  Make sure that the business is being conducted in a location that is in decent shape and represents them well.  Ask a contractor whether they ever had disciplinary action taken against them or if they were ever in legal trouble.

Those investors who know how to pick real estate rehab contractors are bound to find the best company for the job.

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 How To Turn A Rehab Into A Rental Property

Wednesday, February 12th, 2014

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Turning a dilapidated rental into a cash flow machine is possible for investors who purchase a property at a discount and rehab it. 

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 some rental property investors who prefer to purchase a sub par property located in a good area and rehab it.  This process can be risky and only those who completely understand the rehab profession should become involved in it.  Those who turn a rehab into a rental property are bound to earn even more on their investment, if they are able to purchase the property at a deal.

In order to turn a rehab into a rental property, first have a good understanding of the area where the property is located.  Areas that are increasing in population and have a number of potential tenants are good regions to invest in.  Make sure the property is in decent shape and won’t require any serious overhauls, as this would end up requiring a serious time and money commitment.

Those who want to turn a rehab into a rental property need to accurately predict the amount of time and money the project will take to complete.  Investors who don’t have experience in calculating rehab costs should hire a professional to generate an estimate.  These individuals should also offer an estimate for the amount of time the rehab will take to complete.

After deciding that a property is worth rehabbing, work with the seller and obtain the property at a deal.  When negotiating with them, explain how much time and money would be required to get the property ready for tenants.  They should be willing to negotiate on the price in order to compensate for this.

Those who want to turn a rehab into a rental property should now obtain lender financing in order to secure the property.  Remember that at least 20%, but probably 35% will be required as a down payment.  Also, realize that a large sum of capital needs to be on hand in order to pay for the rehab and the monthly mortgage payment while the property is being renovated.

Investors should only turn a rehab into a rental property if they are able to purchase a property inexpensively, have a good understanding of the local market and are able to calculate the amount of time the project will take to complete.

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.

Screen And Interview Tenants Before Admitting Them To A Rental Property

Wednesday, February 12th, 2014

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Rental property investors need to obtain high quality tenants, as this will contribute to the profitability of the property.  While every investor understands that they should screen tenants before admitting them to a property, many don’t understand the interview process in its entirety.  Investors who take the time to interview tenants should understand what questions to ask and how to judge those answers.

Before screening tenants, it is important to get an idea of who they are and what they are looking for.  Investors who interview tenants before the screening process can save time, money and grief.  This will give an investor a chance to talk with a potential client face to face and learn more about whom they are accepting in their property.

In order to interview tenants properly, make this process relaxed, as it shouldn’t seem like a job interview.  The first question to ask a potential tenant is why they are moving from their old residence.  Any hesitation or answers about the integrity of the previous rental owner should raise a red flag.  Answers pertaining to the end of a lease or obtaining a different job in a different location should be typical.

The next question to ask is how many people are going to be living in the apartment.  Rental property owners don’t want to deal with a large number of people at one address.  Again, look for signs that an individual might have plans to offer housing to their entire extended family.  Answers that dictate that they are the only ones moving to an address should put investors at ease.

Rental property owners who interview tenants should ask them if they have any pets and then discuss the rules regarding pets.  They should also ask tenants about their job and if they will have the money to pay for move in costs.  This should give an investor an understanding of a potential tenant’s financial situation.

Investors who interview tenants should finish up with questions regarding their previous rental history.  Ask a tenant if they have ever been evicted in order to place this issue out in the open.  Of course, an investor will have to do their due diligence to make sure that a potential tenant is telling the truth, but this could be an easy way for a tenant to come forward with honesty.

Investors who interview tenants in this format are bound to find those who are suitable for the property and limit problems before they arise.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.

Securing A Real Estate Mortgage At The Best Rates

Wednesday, February 12th, 2014

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Most investors rely upon lender financing in order to enter the real estate field.  Those who are closing in on their first real estate purchase need to make sure that their credit score is in order.  Investors who are aware of what affects their credit can take steps to avoid a sudden drop in credit worthiness.  Securing a real estate mortgage at the best possible rates is crucial to profiting the most in the business.

The process of securing a real estate mortgage is made easier when an investor has a high credit score.  While most investors are aware that opening a number of lines of credit and continuing to pay them off monthly will build up a credit score, many are not aware of what hurts their credit rating.

In order to avoid a drop in credit worthiness, avoid any late payments months before securing a real estate mortgage.  Do what is necessary to pay at least the minimum payment, as a late payment is definitely going to dock a few point off a credit score.  If for some reason, an investor is behind on their payments and the account goes into collection, they probably won’t be able to secure a mortgage.

Other factors that make the process of securing a real estate mortgage difficult include purchasing large items with credit before purchasing real estate.  Avoid lavish purchases before investing in real estate, as they will temporarily reduce a credit score.  Boats and cars are out of the question so consider waiting until after purchasing a real estate investment to buy these items.

While most investors are aware that having a number of open credit accounts is a good way to increase credit, applying for these accounts before the process of securing a real estate mortgage is a bad idea.  Avoid applying for new credit cards and spend a few months paying for the current open lines of credit.

Another credit sapping technique involves closing lines of credit.  Those who have a number of credit cards should keep them all.  Don’t close credit card accounts without a very good reason for doing so.  This will make securing a real estate mortgage more difficult and will result in higher interest rates over the course of the investment.

Investors who are securing a real estate mortgage should be aware of all the factors that go into their credit rating.  Those who avoid credit-savaging mistakes are bound to receive the best rates.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.