Month: September 2017

Shop Until You Drop: Real Estate Buying Tips

People are looking to purchase real estate out there for many reasons. Whether you’re attempting to find a home for your family or if you just want to make a profit by flipping a house, here are some great tips you can use for buying real estate. Focus on these tips, and learn about the market.

Knowing what you can afford in monthly payments is very important when considering a real estate purchase. If you have a maximum monthly payment amount that you feel comfortable with, then you will eliminate the possibility of making yourself “house poor”, meaning that all of your income goes towards your housing payment, leaving you little extra money for fun or entertainment.

If you are purchasing a rental property with tenants, check their lease length and history. It is not unheard of for a person desperate to unload a property to find or hire short term renters to entice a buyer. Once the home is sold, you could be left scrambling to find new tenants.

Before looking at homes to buy, take stock of your current financial situation. Look at the level of your current debt, look at the stability of your income, and decide on the amount of house you can afford before you get your heart set on a home that is too expensive for your budget.

One important tip when it comes to real estate is to make sure that you do your homework on what agent to choose. This is important because this may be the largest investment of your life and you need to make sure you are in good hands. Be sure to do background checks, read reviews, and try to find out their track record.

Commercial Real Estate

One important tip to remember when investing in commercial real estate is to try to avoid the most common first purchase – apartments. This is important because of over saturation as well as the possibility for a much higher profit elsewhere. Try to pick a specialty property that is unique to you.

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.

Foreclosed Homes

For both sellers and buyers make sure that you always gather data about things. Look at the newspaper in that area for things like foreclosed homes, current and historic median selling prices and also how long homes are staying on the market. Also look up things like unemployment rate and crime rates for the area.

Learning some tips and tactics to use in the real estate market will ensure that you’re always getting the best possible deal as a buyer. You never want to be left out in the cold on any deal. People are looking for ways to take advantage of you at every turn. Use the tips above and you’ll do great.

Some Benefits of Estate Planning

There are several benefits of estate planning. The first benefit is that it is going to be the best way that you will be able to provide for your family once you are gone. If you don’t do the estate planning, then your family is not going to be able to get as much money and it is going to take them a lot longer to get that money. Therefore, your family might not have enough money to pay their bills when there is an unexpected death of a loved one. The estate planning can help with the finances.

Children

The second benefit of doing estate planning tucson az is that it can make sure that your child is not going to go to child protective services if something happens to you. There are a lot of things that you will need to think about when it comes to your child. One of the most important things is who you would want to be their guardian if you or your husband is not able to take care of the child. You want to make sure that you are not leaving this decision up to the courts for your child.

Expenses 

The third benefit is that it can help to minimize your expenses. This is because if you don’t do the estate planning, then the court will have to do all of the handlings of your property. Therefore, someone is going to have to pay the court costs along with an attorney. This is also going to include the guardianship of your children. This can add up to a lot of money like $10,000 just for a small estate. That is money that you are going to want your family to use for their bills that they are going to have.

Property 

The fourth benefit is that your loved ones are going to be able to get to the property that you left to them a lot quicker. Without the estate planning, your family is going to wait up to 9 months before they are going to be able to touch anything that you might have left them. But with the estate planning, the family is going to get the money to pay for medical bills, the funeral, or anything else that needs to be paid for immediately in the event of your death especially if it is all of a sudden.

Decisions 

The last benefit is that your family is not going to be left to make some difficult decisions. One of these decisions might include if the machine is going to be unplugged if you are in a coma. Another decision is the handling of your remains once you have passed. All of these decisions can be very heartbreaking that you don’t want to face, but it is a good idea to plan for these things just in case they do happen. In the estate plan, you can talk about all of these things that you want to be done.…