Month: May 2017

Real Estate Buying – Tips From The Pros

It’s never an easy thing to venture into unfamiliar territory like the housing market and still come out ahead. A lot of homebuyers out there today, are getting pulled apart from every direction and burned on a variety of real estate deals. Make sure that you are armed with the proper knowledge. Read these helpful home-buying tips below.

To find the perfect home, you should establish a list of features that you will be looking for. This can include the size, the number of rooms or the location. Knowing what you want should help you go through a large number of ads quickly and select the homes that correspond to your needs.

Property

If you can afford to, purchase a home protection plan. These policies will cover repairs to appliances that come with the home like water heaters, oven, and air conditioners. These policies can end up saving you a nice chunk of change if something goes wrong during your first year home owning the property.

If you do not plan to live in an area for very long, it is a better idea to rent than to purchase. You do not incur the cost of trying to sell the property when you need to move, and you do not sink money into improvements that you don’t actually benefit from.

Property For Sale

Find a great neighborhood and then investigate all potential properties. If you find an up and coming neighborhood where property values are on the rise, investigate every property for sale and consider purchasing the lowest priced one. The advantage is this: If you find that the two lowest priced properties in a neighborhood are priced at $150,000 and $170,000 ” buy the $150,000 property and you can place it immediately on the market for $165,000. This gives you an excellent short term investment that will require little to no work on your end, other than arranging the financing and finding a selling agent.

For Sale By Owner

If you’re an experienced investor, consider “for sale by owner” properties. For sale by owner properties often present an excellent investment opportunity for investors who are familiar with the purchase process, and who would prefer to save on agent commissions. There are many different ways to structure a FSBO deal; it’s a matter of finding the one that works best for you.

First time investors need to be aware of some challenges associated with properties that are listed as ‘for sale by owner’. Many times, investors have purchased these properties (or want to purchase additional properties in the area) and they are simply testing the market to see how much they are actually offered. Dealing with ‘for sale by owner, property may be complicated, and the process of settling on a contract can get fairly lengthy. Therefore, you might want to consider these properties down the road, after you are a more experienced investor.

If you take anything at all away from the tips in this article, you should understand that it’s easy to get a great deal, as long as you approach the market with a level head and right amount of knowledge. Maybe not every tip here will be useful to you, but you can gather a general idea about how to make out like a bandit. Now, all that’s left is to apply the advice.

How to Prep Your House for Sale

There are several things that a homeowner should never do, before listing their home for sale. Of course, the top mistake is failing to prep the house for sale. This is a very important step that requires addressing immediately. Yes, we buy houses, and we are a company that prefers houses that are ready to sell and make a good impression on potential buyers. The fact is that placing the home on the market is not the first step in the selling process. Prepping the house for sale is the real first step. If you have a home that you would like to sell quick, make a few improvements.

Curb Appeal Is Important

Curb appeal is all about creating a very attractive exterior that attracts plenty of potential buyers. Clearly, potential buyers avoid a house that looks like a disaster waiting to happen with overgrown shrubs, weeds, cracking sidewalks, and a driveway in need of immediate repair. Improve your homes curb appeal by mowing the lawn, cutting the hedges, trimming trees, repairing sidewalks, repairing driveways, and cleaning gutters. Add a few flowers and a fresh coat of paint to the exterior building.

Create An Inviting Entrance

An inviting and welcoming entrance is also another key to selling your house. Potential buyers really like an inviting entryway. This creates a very positive first impression. A good first impression might lead to a quick sell. Make sure that there is a clean and clear pathway to the door. Add a contrasting color to the door that really pops. In addition, add new house numbers and hardware to the door to make it really sparkle.

Perform Repairs

There are quite a few minor repairs that you are probably able to perform personally. For example, changing out a light switch, fixing a leaky faucet, or covering up minor holes in a wall. However, it’s vital to call in the professionals to fix things like a leaky roof, broken locks, or cracked windows. Those features will certainly discourage a potential buyer.

Get Rid of Clutter

A messy house is a big mistake and might make it extremely difficult to sell your house. Get busy clearing out the clutter. Buyers would like to see the layout and the design of your house. They would also like to have the ability to picture themselves living in your house. Therefore, it’s a good idea to get rid of all the little odds and ends or accessories in the room. Remove family pictures, personal items, trophies, and other items taking up space. Place them in a storage unit.

Go Neutral

Nothing turns off a potential buyer more than a house that is decorated in wild and garish colors that do not match their taste. Keep your home decor simple and neutral. For example, paint the walls in beige, white, grey, or light tan. This allows buyers to picture themselves living in the house, instead of looking at your red walls and purple rugs on the floor.

Here is something important to remember. Always take time to prepare your house for sale. A few simple changes and preparations will sell the house sooner.

When Do You Need A Property Manager?

If you are looking into buying homes for rent or even renting them already, you may be wondering if you need a property manager. There is no definitive answer or magic number of properties that you need to own in order to bother looking into property management Holly Springs NC. Deciding on whether or not to hire property management is quite possibly one of the important decisions that you can make as a landlord as property managers can either make or break your reputation with present and future tenants.

Reasons To Hire A Property Management Company

You don’t live near some of your property. While it’s one thing to rent a house down the street from where you live, it’s something entirely different when you are renting a few hours away or even in another state. This is where property management could help out by making it so you don’t have to go all the way to the other properties.

You have multiple properties. Sure, renting out a couple units in a duplex might not be the most difficult thing to do by yourself, but things start getting complicated after a few properties. While you may think you have everything in control, things can go wrong rather quickly and you need to be prepared to handle it. All it takes is one lost rent check or a misplaced service slip for repairs and you have authorities on your case.

You want to take a hands-off approach. Sure, you own all these properties, but that doesn’t mean you want to hang out with the people that you are renting to. If you are this type of person, you view your purchase as an investment and nothing more. This is why a property manager would be great in this case, they do all of the communicating with tenants and discuss problems that they can’t solve with you. Basically, you want nothing more to do with your property rather than purchasing it and receiving money.

Your properties accept vouchers or are subsidized. These types of rentals can get very complicated and have an extra set of rules attached to how they must be run since you are being paid with government funds. If you fail to follow these rules on your subsidized housing, you could disqualify yourself for these programs and miss out on a large amount of money because of it. It’s best to hire property management who are aware of these rules and can help guide you through the process so things don’t get messed up. In addition, your property must be able to meet certain safety and health codes at every single inspection. These codes are more strict than with unsubsidized housing.

It can be difficult to find a good property management company. You must do a considerable amount of research to make sure you are going with the right choice. Don’t be afraid to ask questions so you know exactly how they operate and if you’ll make a good team together.