Monday, April 30, 2012

What To Expect From A Real Estate Professional?

The home buying and selling process can be a bit confusing, especially for those who are doing this for the very first time. To avoid any extra problems, many people are turning to the real estate agents. These professionals have the knowledge and the skills to get any family into the home of their dreams. Individuals who are currently in the market will need to check out this guide and learn what to expect from a real estate professional.

In order to seek out a reputable and qualified professional, individuals will need to look into firms. Real estate firms are known for employing highly skilled agents that know just about everything there is to know about the market. It may be a great idea to make an appointment with a couple of popular firms in the area, simply to see where the right professionals are located. Look as locally as possible in order to work with agents that know the right residential areas.

There are certain skills that a professional real estate agent is supposed to have at all times. Buyers and sellers never want to be in the dark, which means their agent needs to be open as well as available. Most agents have a mobile number they use as well as an email address so clients can get a hold of them easily. Agents should also be quick about returning calls and emails so that no client is left in the dark.

First time buyers often do not know how to negotiate the price to get a better deal. The professional real estate agent will actually possess the negotiating skills required for this process. Not only will they be able to bring down the price, but special extras may also be added in depending on the agent and the deal. It is important to be clear about the number that is the most affordable and stick to that.

In some cases, the property is not going to be completely move in ready. Repairs could be required or even upgrades that the buyers may have their eye on. If there is anything extra required, the home buyers will need to speak up and make sure it is added into the final agreement. Talk about these details with the professional agent hired and see if they can help out.

When the deal finally gets started, the agent will be the one handling all of the paperwork. Everything that needs to be filed will be taken care of by the firm. All information that is provided by the buyers or sellers needs to be as accurate as possible. If anything is left out, the entire process could be delayed or the deal could even fall through.

Wednesday, April 25, 2012

Tips on Maintaining Rental Property When Investing

Maintaining rental property is incredibly important. Studies have revealed that the number one reason tenants renew their lease is because it continues to be maintained well! Tenants tend to terminate their leases when things are left to get worse or they were ignored. You are able to do yourself a huge good deed by being very attentive to complaints. Fix things yourself, or rent the work out!

Take into consideration what takes place in your own personal home when something goes wrong. Odds are probably good that you simply phone in a renovation or repair man right away. Dealing with something like cold water, clogged plumbing, and other problems are definitely no fun when maintaining rental property!

Now, put yourself in your renter's shoes. They have got to depend on you to get these things repaired! Don't leave them waiting longer than they should to have things taken care of.

There are a few standards you should pursue when it comes to maintaining rental property. First, you need to be prepared. Paying attention to details and taking defensive measures can go a long way.

Within your lease, you must have some language that details how long tenants should expect a repair to get handled. In most cases, a work order needs to be responded to within 24 hours at the most. If it is going to take longer than that, the tenant should be contacted right away to let them recognize that everything is being handled.

Should you get a work order, you'll need to make 2 copies of it. The 1st needs to be filed in the tenant's file. The 2nd should be placed in a separate file that contains all work orders you are given. This will assist to keep you organized. It will even assist you to if you ever need to look the work order up within the future.

Renters should always have an emergency number they could get in touch with. If something like a pipeline bursts, you will no doubt need to know about it straight away! Or else, the unit may become very damaged.

Some landlords choose to do the maintaining rental property themselves. Though, if you're not handy or sense like you have a lot of other obligations, then you'll need to establish an account with service companies like plumbers and electricians. It is possible to notify them straight away and never have to deal with anything above and beyond having to pay the bill!

There is a fine line in terms of things that break through no fault of anyone or through tenant carelessness. You have to use your discretion to determine whether or not you can charge the occupant anything for the repair.

Tuesday, April 17, 2012

The Options Available For Those Interested in Big Island Real Estate

There are many people who are wanting to live, retire or vacation in the state of Hawaii. The beautiful vistas and unspoiled white sand and black, lava sand beaches are what entices so many buyers. They come to enjoy the year-round warm weather that accompanies the gorgeous scenery. When purchasing a piece of this island paradise, there are many communities in which you can live and many different home styles from which to choose.


There are several communities from which to choose when you purchase big island real estate. They are private neighborhoods which offer the residents different luxuries. The property on which these communities sit is close to the airports which are on the island chain to ensure that the guests and residents will have easy travel. They will be able to get to the neighborhood quickly and will have a place to stay once they arrive. This is due to the fact that many of them have a resort on the property.

In addition to these perks, the communities that offer big island real estate offer the home owners access to private areas. Places such as Manini Wali beach and Uluweuweu Bay are off limits to the public. However, these parts of the beach are made available to those who live in these places. Some of the most luxurious communities that can be found on the island of Hawaii are Kukio and Hualalai. These places have many affordable luxuries from which property owners can choose.

The Homes

If you are looking to retire or vacation on the island you may want a small cottage. This will give you enough room to stay comfortably, yet be comfortable enough so that you will not feel burdened. If this is the case you will want to purchase a villa or town home. These houses can be built with one, two or three bedrooms. The buyer of big island real estate will be allowed to choose the amount of bedrooms that they want.

For those who want to stay on the island full time or will need more room, there are larger dwellings. You can choose to purchase a condominium or a single family home. These places can be built to the needs of the home owner and customized to ensure that you will get exactly what you want. When you buy a condo or single family home you will be able to build a dwelling that can have up to five bedrooms.

Thursday, April 12, 2012

What Is Real Estate Wholesaling?

What is wholesaling? Well, to answer this question we have to know what it means in reference to selling properties. Now there is plenty of material out there to describe this strategy in estate investing and if it's described as the following scenario then there's a good chase you've found valuable information.

The Definition: The art of controlling a property by obtaining a sellers purchase contract from a eager seller for a fix price; once obtain assigning the contract for a higher price to an end buyer (usually investor "cash buyer" not home owner).

This is a great way to begin, for a new comer it's a fast no risk real estate strategy. There are many benefits. You'll never have to use your own money. The term "OPM" stands for other people's money, and essentially that's what you'll be doing; using OPM to fund your deals. You won't need good credit; this is because you'll be using the resources of your financial partner in all your deals. You don't have to be a real estate agent or broker to perform these deals.

You will however, need to structure the deal with the proper clauses in place for your exit strategy to work. You will need the assistance of a Title co. and/or attorney to handle the necessary paper work for closing. You will need to be ready to collect the Money.

The process is simply pairing a buyer with a seller and getting paid for matching the two. Pay attention to the statement just made. A few years back wholesaling properties was extremely easy by performing a few steps.

Step 1:

Find a seller

Step 2:

Gain control of property "get property under contract"

Step 3:

Advertise property

Step 4:

Assign contract to end buyer

Step 5:

Access to Title co, attorney, etc. go to closing

Step 6:

Get paid

Well it use to be effortless finding a driven seller's was easy, however in today's economy for this strategy to work you don't have to re-invent the wheel but some steps have to be altered. What's meant here is certain steps have to be re arranged to ensure leads are coming end and deals will be closed. Banks have made it close to impossible for investors to obtain funding, as well as hard money lenders. Finding motivated sellers first it not a "deal killer", but it will slow your productivity down. The best way to execute a wholesale deal in this current market is to build a buyers list. Have buyers on deck ready to purchase any deal you bring to the table.

So what should your first plan of action be? How do you find these motivated buyers? You market to them like you would if you're looking for a sellers. Through traffic generators: build a squeeze page website, blogs, direct mail (yellow letters, post cards, text blast). Once you've built a list, gather pertinent information from your buyers like the location of investing interest, price range, and min/max. amount of rehab desired if any etc. Once a rapport has been established begin looking for properties that fit the criteria of your financial partners.

Friday, April 6, 2012

Why Iowa's Real Estate Marketing Is Booming?

While the rest of America is still dealing with a sputtering real estate market, the Hawkeye state of Iowa has defied the current U.S. real estate slump. The aftershock of the housing market meltdown has caused a great deal of grief and sadness among home owners that are now upside down on their investments or for people who can't find a buyer for their house due to stricter loan requirements. Iowa has managed to stay afloat, or even flourish in some opinions, when it comes to the real estate market.

Iowa, as a traditional Midwest state, is heavy in agriculture and farming. In 2011, it was reported that farmland prices in Iowa have skyrocketed nearly 30%. In fact, some land in the great Hawkeye state recently sold for $20,000 an acre setting a new record. The real estate boom in this area can be accredited to the rise in crop prices and the demand for products such as ethanol which comes from corn. The demand for ethanol alone has tripled in the past five years alone, making farm land and open acreage very popular.

Besides being a farming state, Iowa has a lot to offer. From excellent rankings as one of the top states to raise a family and some of the best rated schools and graduation rates, Iowa has become a perfect location for people who want to raise a family. The state has also recently put a lot of attention into upgrading and developing large urban areas bringing a lot of career opportunities. Housing some of the companies on the Fortune 500, Iowa is home to many types of industries and markets. No matter if one is coming from across the country or across the world, Iowa is bound to offer excellent resources to continue a career or even start on a new business venture.

Even though the real estate market is booming in Iowa, houses are still extremely affordable and priced competitively. Whether you are considering purchasing land to build your own dream home or are searching for a charming house with lots of character, this market offers anything you could want. With major metropolitan areas and quaint, small and quiet towns the diversity of charm and character abounds within this Midwest state. If you have not fallen in love with Iowa yet, you need only take a trip to visit the beautiful scenery, partake in some outdoor adventures, or visit its cultural districts to find everything there is to admire about this state.

Monday, April 2, 2012

Property Management Maintenance Practices to Preserve Property Values

Owning a rental can of course be a cumbersome task and require continual upkeep and maintenance by the Owner and/or the Property Management Company. The purpose of this article is to summarize some of the best ways to minimize your potential for large capital project costs by performing the routine maintenance that best preserves your property condition.

1. Frequent Inspections

The most important aspect of managing a rental property is performing routine inspections and ensuring that no small condition goes unnoticed. This is where a simple 30 minutes of your time can save you a lot of money down the road. Some Tenants may not report small problems to you and overtime the small leak under the kitchen sink could turn into a $500 repair project. Try to perform an internal inspection at least once every 6 months.

The other aspect about this is keeping in frequent contact with your Tenants. This is where many Land-lords drop the ball and it ends up costing them a lot of money in lost capital. The secret is to treat them like Gold. A Tenant that pays you every month deserves great treatment. Respond to their maintenance problems right away and return their calls right away. When you are not maintaining a great relationship with you Tenants, they will be much more likely to let you know when there is a minor problem BEFORE it develops into a major problem. That is the secret that is will save you a ton of time and energy.

2. Safety Hazards

During your inspections and definitely as soon as you start managing your property, perform a thorough review of all potential safety issues. Look for things like:

- outside trip hazards
- check all smoke alarm batteries
- carbon dioxide alarms
- check chart GFCI outlets respond accordingly
- check for proper grounding and operation of all normal outlets as well
- water heater straps
- cracked windows and all windows operate correctly
- handrail structural sturdiness

3. Water Leaks

Try to time your inspections so that you are there during a rainstorm. This will allow you to perform a roof check. Climb inside the attic and double check that there is no noticeable signs of leakage. This is really more applicable for older homes that may be more susceptible to having a roof leak.

Other places to look for water leaks are under every sink. At every toilet, stand around the bowl on the floor and see if there are any soft spots. If there is anywhere that there is a soft spot, you will need to have that toilet bowl removed and potentially need to repair the wood, but definitely you will need to install a new wax seal. When there is a soft spot around the floor that means that the wax ring is lacking and will ned to be repaired.

The other place is around the tubs and showers. Look for wet spots around the tub, soft spots, etc. that could indicate a leaky area or an enclosure that is not keeping the water in the tub or shower area. Also, keep a close eye for any mold starting, that can be whole different issue and requires immediate attention.

4. HVAC Filters

This is a very common area that Tenants may not keep up on and can cost you money in HVAC equipment. For example, if a Tenant does not regularly replace the filters, then they clog up and restrict airflow. Your heater and air-conditioning systems then have to work proportionally harder to generate the necessary amount of heating and/or cooling to get the temperature set point where you want it. Over time, this takes a toll on your systems and will lead to premature degradation and replacement and repair of a system long before it should have been due, costing you more capital outlay.