Archive for February, 2011
February 26th, 2011 -- Posted in Apartment |
When it comes to selling commercial real estate, there are certain procedures that should be followed and some considerations that keep in mind prior to placing the property on the market. A careful consideration of these procedures will result in a much better outcome when the property is sold.
One of the things that should be done is to prepare an apartment analysis form to give to potential buyers. This shows them in writing what they can expect from their apartment building investing venture. This analysis will also keep the asking price from being lowered as you have given concrete evidence about the value of the building that will be heeded by those interested in apartment investing.
Some of the other considerations are determining whether you are willing to give a second mortgage, and whether you have investigated the market and know what the interest rates are for commercial properties of this caliber. By doing this, you can decide how much you will charge and at what interest rate. This can bring in potential buyers who may not have been able to begin apartment investing in your property otherwise. continue reading »
February 22nd, 2011 -- Posted in Apartment Financing |
Purchasing any commercial real estate is an investment, and many people beginning apartment investing need to learn what type of financing will best work for them. Real estate financing can take several different forms, all of which should be considered before buying any commercial real estate.
There is traditional financing, which is using a bank to secure a mortgage. This works well in apartment investing when you have a down payment and proof that the commercial real estate you are investing in is fluid. Private money is also consideration for apartment building investing. Many investors find this to be their best choice for real estate financing.
Another method is to get together with partners for apartment building investing. With partners, it’s necessary to consider the partnership carefully, as it can be risky, depending on the partners you choose. Some partners can be categorized as risks rather than strong investing support. There are good partnerships where both equally put effort into the apartment investing. Another positive arrangement is when one partner puts up the main part of the investment while the other contributes by running the everyday affairs such as property management and repairs. continue reading »
February 12th, 2011 -- Posted in Apartment |
The Internet has quickly become a valuable resource in a variety of ways, and apartment searching is no exception. In fact, using the Internet can be the ideal method for apartment hunting, particularly if you are interested in moving to a new area that is quite a distance away from where you are currently located.
Of course, searching for an apartment online is not without its risks. Therefore, there are a few things you should keep in mind when searching for an apartment through the Internet that will help guarantee a pleasant experience resulting in an apartment you love.
Use Many Sources
One of the biggest mistakes that apartment hunters make is using just one resource when searching for an apartment online. Keep in mind that different web sites will have different listings. Therefore, in order to achieve the most comprehensive look at the available apartments, you will need to check with many different sites.
When looking for sites with apartment listings, you should also utilize different search engines. Since each search engine has its on method of bring back search results, using more than one search engine may help bring back some different results. At a minimum, you should use the major search engines, including Yahoo, Google, MSN, and Ask. continue reading »
February 7th, 2011 -- Posted in Real Estate Investment, Uncategorized |
Need to spruce up a recent real estate investment, but don’t want to spend a lot of time or money doing it? Here are several quick and easy (and inexpensive) ways improve your fixer-upper.
Paint
A little paint can go a long way when pepping up a home’s appearance. A fresh coat of paint can make a home look as good as new. If the paint looks good, you might consider recovering the trim with a semi-gloss paint just to brighten things up a bit. If you do decide to repaint the interior, go with a white or beige color – something that is neutral.
You can also paint kitchen and bathroom cabinets to give them a new and improved look. Use a white semi-gloss paint to cover up stained or extraordinary colored cabinets. A quick coat of paint is less expensive then replacing the cabinets and it can really make them shine. If you want to go all out, purchase some new cabinet handles. Simple round handles can be picked up for 40 cents or more at big name home improvement stores.
Replace Outlet and Light Switch Covers
Resist your desire paint over the old outlet and light switch covers. Instead, purchase new ones and replace them. A new plate costs about 50 cents. If the outlet or switch is broken, you can replace the entire unit for about $2.
Replace the Trim
If the home has wood trim that has seen better days – replace it. Lowes and Home Depot both offer durable “foam” trim that looks just as good as the real deal. You can purchase the trim unfinished or already painted, depending on your needs. continue reading »
February 5th, 2011 -- Posted in Real Estate |
There has never been a better time than now to move to the Blue Ridge Mountains region of North Carolina. The areas of Asheville and Hendersonville, NC, for example, are two of the best places to raise a family in the United States. While housing prices are currently unstable in most of the rest of the country, North Carolina is seeing steady prices and a reasonable amount of turn-over in real estate inventory.
There are many things for you and your family to do in the Western North Carolina area. The Blue Ridge Mountains are a vacation destination for people from all over the country. Living in the area gives you and your family access to many amazing places to visit and experience, each and every day. The Blue Ridge Mountains, called this because they appear blue from a distance due to their abundant, native plant life, have some of the best lakes, rivers, and historic places for you and your family to visit and enjoy.
In the spring and early summer, the Blue Ridge Mountain region bursts alive with many different varieties of wildflowers. Exploring the area you will find a plentiful supply of native flowering plants and trees such as: Azaleas, Bloodroot, Dogwood, Firepink, Redbud, Rhododendron, Serviceberry, Spring Beauty, Trillium, and many varieties of violets. A day of enjoying the wildflowers of the area is a must. Enjoying the entire wildflower season is an added bonus if you own real estate and live in the area!
If you like to fish or swim this region has many lakes and rivers. If you would like to live in the area year-round, be sure to check out the abundant water-front real estate on the local rivers and lakes. The best of which can easily be found in the greater Asheville, Brevard and Hendersonville areas of Western North Carolina. By working with an experienced local Henderson real estate agent they can show you some of the best places to live based on your personal requirements.
Some of the most scenic and popular lake front real estate can be found on Biltmore Lake, Lake Glenville, Lake Lure, and Lake Toxaway. Water-front property on any of these four man-made lakes can be a perfect place for you to retire or raise your family. Though each lake is man-made, you would never know it from the amazing scenery and naturalness of the lakes.
If you are looking to live river front, Cane Creek to the natural rivers of Davidson, French Broad, Rocky Broad, and Swannanoa have some wonderful and affordable real estate locations. In addition to the major rivers, there are a multitude of natural creeks and streams which flow in the area. Many of them have private property available. The rivers and streams of the surrounding area are some the best fly fishing areas you can find in Western North Carolina and the United States.
The Asheville and Hendersonville areas are known for their rich heritage and historic attractions. Some of the best places to visit in the area are The Mineral & Lapidary Museum of Henderson County, the Biltmore Estate, and the Folk Arts Center, just to name a few.
The Blue Ridge Mountains have something to offer for everyone. Living in the Blue Ridge Mountain region is like living no where else on earth. Enjoy!
February 2nd, 2011 -- Posted in Real Estate |
“Flipping” is a hot trend in today’s real estate market. Just take a look around, there are books on flipping, media articles about flipping and even reality shows have tapped into the flipping rave. There is no doubt about it, flipping is hot and with so many ways to do it why wouldn’t it be? Here is a quick list on ways to flip for profit.
Buy It, Fix It, Flip It
Perhaps the most popular way to flip a house these days is to purchase a fixer-upper, make some repairs and sell it for profit. Real estate investors have been flipping houses like this for years. This is a tested and proved way to make money. Even better, flipping fixer-uppers can net profits anywhere in the range of $15,000 to $50,000. The key to this type of flipping is finding bargain buys that require as little fixing as possible.
Buy It, Refinance It With a Lease Option
Instead of selling your fixer-upper for cash, you can sell for terms. Once you have renovated the house to your liking, have the property appraised and refinanced at its new value. If you are on your game, you should have virtually no money tied up in the transaction. Now you can sell the investment property on a lease with option to buy. The rent payment should cover the mortgage payment. If and when your tenant opts to purchase, you will rake in a larger profit because you won’t be liable to pay a broker’s fee. If the renter decides to option the purchase after a year, you will benefit from a lower capital gains tax rate. continue reading »
February 2nd, 2011 -- Posted in Real Estate |
Is flipping houses legal or not? At seminars, I’m often confronted by people who insist “Flipping” is illegal.
What they don’t understand is that the part that’s “illegal” isn’t the transaction, it’s the mortgage fraud that some people commit in order to get the deal funded.
When you Option a house and sell it, the end buyer is responsible for their own financing, no “fudging” on your part, and no possibility of fraud.
The Buyer agrees to pay a certain amount, and has a down payment and credit to match, and knows the deal. The haven’t been misled, and you haven’t helped anyone commit fraud. continue reading »
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