25 Ways to save on Home Insurance There are many variables relative to a home that determine the rate that is charged for insuring the property. For example, homes constructed of Brick and that are detached from other homes, will get cheaper insurance rates than a home constructed of wood and that is attached on one or both sides. Also a 3 family home will cost more to insure than a one family home, as each unit adds another potential hazard with more stoves, kitchens, potential water leaks, and increased chances for human error that may cause a fire.
Archive of posts tagged rentals
Having A Property Manager?
Renting a property is not only a matter of choosing the right one, making agreements with the owner and paying the fee. This is a common misconception for those who do not know that there is more to owning a property.
The property owner has many responsibilities that he or she has to act upon to keep the investment a continuous money-maker source. There is property maintenance, bookkeeping and tenant management. These are just for starters.
In addition, there are rules involving real estate and property rentals. You can either start learning about every one of them or get someone who already knows all the aspects of real estate.
If you are an owner, would you rather deal with these things or have someone deal with these for you?
Buy Multifamily Property Profitably
Multifamily property is any rental income property that has more than one family unit. The smallest property being a duplex (two units) and then up from there to larger rental complexes easily consisting of hundreds of apartments.
The advantage of purchasing multifamily properties-not unlike any income-producing property-is that it provides real estate investors with the ability to support debt from the income it produces-a concept otherwise known in real estate investing circles as “using other people’s money”. This idea is crucial to buying multifamily properties profitably because the success or failure of the investment depends on the income generated by the property to meet debt service and other obligations required to keep the property in service.
Flipping vs Buying and Holding — Basic Exit Strategies (1)
A question that I am beginning to get asked a lot is what I should do with my homes after I have bought them. Let’s assume you did buy in bulk from a REO package or simply found them through a Realtor or other personal contact. For the purposes of this article, let’s assume you bought them at 70 cents on the dollar.
There are always two schools of thought on the debate of should a person flip or hold onto a property or group of properties. Also, if you are going to “hold” a property, then what will you do with that holding time. If you “flip” a property then you need to be aware of any additional charges that you will acquire with the flip.
There are benefits to both strategies and there are cons to each as well.
In this article we are going to explore both and other potential “exit strategies”.
What exactly is an “Exit Strategy”?
An exit strategy is a term used to determine what you will do with a property once you have acquired it. This is a critical part of doing any type of real estate investing. If you know what you will do with a property (long-term or short-term) depends greatly on how you buy. As an example, if your plans are to flip a property then you will want to buy using a Title Binder. This will save you money on title insurance on the sale.
What is Lease Option to Buy
Are you thinking of finally making your first real estate investment? If you are, then you’ve probably already realized that there are many ways that you can own real estate.
While most people choose to secure real estate through loans with financial institutions, there are some who would rather buy a property through a lease option to buy contract. This particular method of acquiring a home has its own share of advantages. Want to know how exactly it works?
Improving Credit before a Home Purchase
You may find yourself wanting nothing more than to own your own home but still prohibited from doing so by a bad credit score. Lease to own options may offer you more flexibility in this regard than do regular banks, but you will usually be expected to put serious effort toward improving your score once you sign the agreement.
Top 3 Investment Tips
However, there is a big difference between “cheap” and “good value”. Property investing is about making good and solid investment decisions, and just trying to buy a property because it sounds cheap, can be a very big mistake.
Real Estate Agent Safety and Security 2
Real Estate Agent Safety and Security
Danger is Not Always Easy to Identify
” Gut feelings” Hesitation” Unexplained fear ” Apprehension”
These are signals that something isn’t right!
Joan Malone knows by firsthand experience that intuition can be a valuable tool for survival. She had told her husband that a particular customer had made her uncom-fortable, but she agreed to show the man more homes despite her gut feeling. Other indicators talked her out of listening to her unexplained fear – she had met with the well-dressed man who said he was an attorney twice before; once with family members present.
There is much more information and 3 simple forms that should be part of your offices routine, no matter how big or small. This was developed by the KY Board, but it’s application is universal.
Real Estate Agent Safety and Security
Real Estate Agent Safety and Security
That reminds me of some of the safety precautions one should take…
Never show a home without another person knowing you itinerary. This can be fellow agent, your office manager, your company receptionist, the floor person ( make sure your info is passed on) or a trusted friend. That person should call your cell phone from time to time to insure your well being. Never meet a stranger at a home. Always meet at your office.
Building Your Real Estate Portfolio
Find Out How To Start Building Your Real Estate Portfolio by Daniel Mc Grey guest author Nowadays, many people are wondering how to make their way into the real estate industry. First, you need to make sure that you really want to be in the business. Once you are ready to take on the challenge, [...]
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