Tag: DO

What should I do to get my home ready to sell?

– Hello and welcomeback to our video blog, I am Yasmin Saad, with the Saad Team here.

Probably the number onequestion I get from sellers, besides how much moneyam I gonna take home, is: what do I need to do toget my property ready to list and put on the market? So here's a few quick tips,things that you can do, that will help ensureyou're in the best showing shape from day one whenyou hit the market.

Number one: anything thatmay be kinda outstanding, sitting on that honey do list, go ahead and get thoseitems taken care of.

There's a few things we always see pop up on inspection lists,perhaps there's a little bit of dry rot or wood rot between the door and the side of your houseleading from the garage.

We see that quite a bit.

If you have any outletsthat aren't working, get those repaired and upgradeto the latest technology so you're protected with a ground circuit, those pop up a lot as well.

Go ahead and install new light bulbs and buy the really good ones.

I know, you're gonna be selling the house and you probably don't want to spend, what you think is frivolous money.

It makes a differencewhen the lights are on and the home shows bright and cheery.

This is Florida, people like their light.

Simple little thingsyou can also do include: touching up your baseboards,if there's any paint that needs to be touched up, do that, and then AC cleaning anda big overall cleaning of the property makes a huge difference and having the windows washed.

If you need any helpwith any of these things, give us a call immediatelyat 239-595-8500, and of course, we'rehappy to sit down with you and take a look atspecifically you might need right there in your home.

Look forward to talking to you next time, you can also see usonline at TheSaadTeam.

Com.

Thanks so much and talk to you soon.

Source: Youtube

How do we know a tenant will pay rent? – Property Rant 021

Hey, guys.

Property Search.

ThinkGladfish.

I'm Brett Alegre-Wood and this is Property Rant.

So, how do we knowthat a tenant's going to pay the rent? And this is actually probably forbeginner investors because once you've had a few properties and you've had themfor a period of time and you've got.

everything's settled down, you realizethat actually it's very rare that things do go wrong.

And when theydo, if you've got a good agent, you address them, it's not an issue.

So,how do we know they're not going to pay the rent? The reality is we don't.

Wedon't control them, we don't control their lives, we don't control theircircumstances.

The best we can do is provide a property that has good, solidfundamentals.

Shops, schools, transport links, major employers and majorinvestments, you know, that's attractive to the tenant, that's well up kept, thatany problems are sorted out, and if we actually sort that out and we dealwith that stuff, then we're more likely to put ourselves in thebest position possible.

But that doesn't mean thatthey're not going to lose their job, they're not going toget pregnant, fall in love, break up, you know, like all the normallife things that happen that can cause financial strain.

So yes, we can dotenant referencing and we can do all that sort of stuff, but at the end of the day,you cannot control another person.

And you can do the best you possiblycan by getting a.

You know, the real key is getting a really good managingagent because the reality is in my experience of over 20 years is, whensomething's going wrong, it's often not just an isolated incident.

If theydon't pay their rent on time, you know, once, you might let them getaway with.

Second time, you know what? You better be ready to move them outbecause the reality is very rarely do they come back and they pay up and do all thatsort of stuff.

What you'll tend to find is lots of excuses and things like that.

And you can say, "Well, hold on.

But mine's an expensive property in agreat area and all that sort of stuff.

" Things still go wrong for people that livein those houses.

You know, we have just as many things go for expensive propertiesas we do for cheap properties.

Sure, cheap properties, you know, you canget into the housing association and things like that and they present theirown issues.

But if we're talking about vanilla lettings deals, if you like,which are normal mom and dads, families, that sort of stuff, stuffhappens.

You can only put yourself in the best position.

You cannot control theother person.

The important bit is when something does happen like they paythe rent late or they, you know, short pay it or whatever it is, that youhave a managing agent that gets on top of them, gets on top of it quickly and reallymanages that well.

And that is often the determination between having a real painin the arse, excuse the French, or just having a seamless, effortlessthing where yes, you may have to eject them, but you've got everything sorted,you've got everything in order and it just happens and it's in process.

And yeah, youmay have to try and collect some money off of them and you may lose somemoney, that does happen.

So, you can't control them, you know,but you've got to get over that and the reality is we're talking less than3% of the entire lettings.

And we've got over 1,250 properties thathave problems.

And that's any sort of problems from late payments through toactually delinquents through to major damage and things like that.

It's lessthan 3% of the time of the properties.

And obviously, some properties in morelower areas, yeah, that's when you have a lot more problems in those areas whenyou're dealing with a really low.

Low tenants, that's not right.

The low rentalfigures and low property prices because oftentimes, the spec of the propertyisn't as good and things like that.

So, it's not that the people areworse, it's oftentimes that the properties aren't up to the same spec, you know? Butalso, it can be that people down there struggle with money a lot more andthey're living on a more, you know, less than the margin.

Okay, guys,have a great day.

Live with passion.

Source: Youtube

Why Do Tenants Rent Instead of Buy?

Who in the world wouldrent a $40,000 home? Why wouldn't they just buy it? That's today's video.

Let's dive in.

Hey, everybody.

I'm Clayton Morris.

I'm the founderof Morris Invest.

I'm a long-time realestate investor.

And this channel isdevoted to helping you take action, go out thereand become a real estate investor.

And we focus here on the channelabout buy-and-hold real estate, because we want tocreate cash flow– passive income.

That's what this channelis all devoted around.

So today we're going totalk about a question I get a lot from differentpeople, who want to know, why would anyonewant to rent a home in the $40,000, $50,000 range? I mean, those are the typesof houses that I, personally, like to buy as a realestate investor– single family homes in theMidwest part of the country, or in the South,or in Pennsylvania, those types of areas– that then have ayard, a driveway, a three-bedroom, one-bath,two-bedroom, one-bath.

But they're affordable.

They're not San Francisco.

They're not Miami.

You know, they'renot $500,000 homes.

They're $40,000 homes.

Those are my favorite.

And, number one, the returnon investment is super high.

And, number two, it's,you know, affordable.

I am able to get alot of properties.

And I have a lotof great tenants who stay for a longtime in my properties.

But a question I get is, well,who would rent that home? Why wouldn't theyjust buy that house? Why would they rent from you? It's a great question.

We're going to diveinto three key areas as to why they wouldn'twant to own that property.

All right, numberone– the first reason why they wouldn't want to ownthat property– it's mindset, mindset.

They don't– not everyonethinks like you do.

Not everyone thinkslike I do, that, yes, we want to own our home, you know? You might have beenbrought up in a family that lived in a home that wasowned by your parents.

Well, maybe these folks don't.

You know, maybe they don't.

Maybe they weren'traised the same way.

And, therefore, theirmindset around home ownership is simply not the same as yours.

So that's one reason– mindset.

Number two reason whythey wouldn't want to own this property is money– down payment money.

Think about this, right– on a $40,000 home,you're going to have to come down with about20% down, if you're working with a bank.

What is that? That's $8,000.

Now that might not soundlike a lot of money to you.

But to someone who'sworking paycheck to paycheck as a blue-collar employee,works really hard– but they don't have $8,000sitting in the bank in order to make a down payment.

Think about that.

You might think to yourself–well, that's simple.

I'll do that anyday of the week.

Yeah, well, some people can't.

And, therefore, renting makesmore sense to that person.

And the third reason thatthese individuals wouldn't buy a house that's$40,000, $50,000 is because bankssimply won't lend.

That's the bottom line.

Banks don't like lendingon properties that are below $50,000, even $60,000.

It's really hardto find banks that are willing to do thaton a primary residence.

So it can be reallydifficult.

And, especially, if you do have that$8,000 as a down payment, they're going to, obviously,check credit score, verify employment, doall of those things.

And, still, they don'tlike to be in that $40,000, $50,000 range for purchasing,for your primary residence.

I don't know why.

It's the same thing withrental ownership of a property.

If you're trying to buya property like that as a landlord, and youlive 50 miles away, you're also going to run intoroadblocks and headaches trying to work with banks inorder to finance a property that affordably, that cheap.

It just doesn't makethat much money for them, to be honest with you.

They're going to financea $40,000 property? That's peanuts to them.

Why would they do it? To them, it's riskier.

They don't want to be inthe home ownership business, so they don't want to haveto go through a foreclosure, take that property back,and, at $40,000 or $50,000, it just does not makemuch sense to them.

I've talked tobankers about this.

And that's the bottom line.

So those are three reasons– mindset.

They just don't thinkabout home ownership, maybe, the way that you do.

So, you know– and theydon't want to own the home.

Maybe they want to move a lot.

That's what they like to do.

Number two– down payment money.

Simply don't havethat money to do a big down payment on aproperty and own that house.

And three– the banks.

Banks simply won't lendon properties that cheap.

Add them all up, andthere's your answer– it's not that easyto buy those homes.

And, therefore, whyshouldn't we buy them? And why shouldn't wehave them out there– great property forgreat tenants to live in that we own and we createcash flow for ourselves? It's a win-win for everyone.

There you go.

I hope you foundthis video helpful.

We have tons of greatvideos here on the channel.

We have all kinds ofplaylists that you can click on and go seeon how to set up and get private money;how to get started with turn-key real estate; youname it, we've got it here.

And don't forget, ifyou're not a subscriber, click the big subscribebutton right here and become part of ournetwork of investors who are learning andgoing out there and taking action and becoming areal estate investor.

We'll see you nexttime, everyone.

Source: Youtube

How Do I Rent Out High Priced Properties? – Real Estate Investing

Joe: Hey everyone, it's Joe Crump.

I've gotanother question here.

Boy, I'm going to kill this name here — Rajav Guktah.

Hopefully,that's pretty close.

Rajav: "The challenge that I'm faced withis simply carrying costs.

Three or four years ago, you could virtually buy any propertyand rent it out for positive cash flow.

" Joe: I'm assuming you're meaning with 100%financing.

Rajav: "This was on account of two primaryfactors.

1) it was prior to the massive appreciation we've seen, and 2) interest rates were lower.

Large amounts of cash to use as down payments are not available to me.

The one investmentproperty that I do own, I purchased by leveraging equity in my primary residence.

The investmenthas done well but I'd like to be able to pick up some new things.

"Joe: Well, first of all, never borrow against your current property (the property you livein) to buy your investments.

Never ever do that.

There's no need to do that.

Don't takethat risk.

You can lose your property.

You can lose the house you're living in.

Peoplesay, 'Well, you've got to take some risks to do investing,' and I agree; you have to.

But you don't have to take that kind of risk.

Protect your house — protect the house thatyou live in.

That's the first order of business.

Joe: You also don't need to go get loans tobuy these properties, and you don't need to wait until you get your next chunk of moneybefore you can put down another down payment and buy another property.

That's just completelywrong thinking.

So don't buy properties that way.

Use creative financing to do it instead.

Joe: The way that you find people that will do creative financing is by using marketingthat works.

So use the right type of classified ads.

Use the right type of internet marketing.

Build lists of buyers.

Build lists of sellers.

Build lists of investors, and you'll be ableto use this stuff.

And by building a list, what I'm talking about is an online databaseof these people.

It's not difficult to do if you have the right software and the rightknowledge.

Joe: You just need to learn this process.

You can get all of this stuff from my "Push Button Method".

That's at PushButtonMethod.

Com.

You can learn how to build those systems and how to build those marketing tactics.

Joe: But even if you've got none of that stuff, you can put a sign out in the yard that says,'I'll buy your home.

' Or, 'I'll make a guaranteed offer on your home in 24 hours' and your phonenumber.

You'll put deals together using that if you put them in the right places.

Joe: Do it handwritten.

Do it on cardboard.

Do it on Coroplast.

Don't make them fancy.

Don't spend money on these signs.

These signs should cost you two bucks.

You can get a pieceof cardboard for 90 cents and you can get a couple of grape stakes or tomato stakesand staple them on there, get the yellow cardboard and write on there in black, 'I'll Make AnOffer On Your Home Today' and your phone number, or, 'Guaranteed Offer On Your Home In 24 Hours.

'Joe: These are great ads and they will work.

Make sure you put them into high traffic areas.

They won't stay up very long, but they'll work.

Joe: Now, there are a lot of other things that will work and that'll also be very effectiveif you get into some of these more advanced techniques that I teach.

Joe: Just get started.

Just do something.

Just take action on what you're doing andyou're going to make money.

Anyway, good luck to you and keep buying properties.

Don't letit stop you.

Joe: I don't think I answered the question,though, because you asked about the values going up.

When the values go up on a property,one of the things that you can do to sell that property is to sell it on a lease withan option to buy.

Now, instead of renting the property, you're selling it, so the buyertakes a whole new perspective from this property.

Joe: Let me give you an example of a propertyin California that I had.

This was back in the 80's actually.

It was $495,000 if I rememberright, and it had a payment on there, because the interest rates were very high at the time,of $4,300 a month.

Now, you can go rent a house like this for about 27-2800$ at thetime, and I had to figure out a way to get that payment covered, because I either hadto sell the property, and I had the problem of selling the property because the marketwas going soft on me, so I had to find a way to get that thing covered because at the timeI had the loan in my name.

That was crazy; that was a crazy time.

But I did it.

Joe: Anyway, so I had to get that payment covered.

So I went out and sold it on a leasewith an option to buy.

I told the guy, 'Look, you're making payments on this property thatcosts you $4,300 a month so you're going to need to make payments on this property thesame as if you were buying it.

And if you can't make that payment, you can't affordthis property.

' So he saw the logic to it, he bought the property, he's making $4,300payments, and he eventually exercised his option and took it over.

Source: Youtube

How do I decide if its time To Sell my Laguna Niguel Home-Check it now

The market activity report for Laguna Niguel for theweek of March 23rd 2015 shows it's a seller's market.

The medianlist price now is $1,079,000.

And on the average it's taking 116 days to sell a home in Laguna Niguel and the days on the market are actuallyheading downward.

Although 37 percent of the homes had aprice decrease, it is currently a seller's market.

So,prices will resume their climb if the trend continues.

While the medianhome price in Laguna Niguel hasn't moved much in the last few weeks, we are relatively close to the high-water mark in pricing.

So, while prices are trending up,inventory is tightening and the days on the market is falling.

This is a great time to sell you Laguna Niguel home.

I'm Arna freedman, your real estateadvisor.

Stay tuned for the next market activityreport for Laguna Niguel, California.

You can also check your current homevalue report at viewmyhomesvalue.

Com and follow up on Twitter and Facebook.

Sign onto ehome.

Com today to get all theproperty information you need in Laguna Niguel.

Thank you.

Source: Youtube

How Do I Structure a Deal to Sell a Property That Needs Substantial Repairs?

Hey, it's Joe Crump.

I've got another onehere.

This one is another example deal that I'd like to explain.

This guy has, "…a sellerwith six properties that he wants to sell.

He's an investor.

" We run across a lot ofinvestors through the Automarketer.

You know, they have one ad, one property they're advertisingand then suddenly they say, "Well, I've got six others that I've got," so that's not uncommon.

"All these properties are pretty similar, so I'll just give you one so you can tellme how to structure the deal.

" And that makes a lot of sense when you're, especially whenyou're first getting started.

Do these one at a time.

Say, "Let's just start with one.

I'll show you what I can do.

We'll put it together.

If you like what happens and howit works out, we'll do the other five.

" So keep that in mind.

"So I'll give you one, tell me how to structure the deal.

" Value is $75,000.

The asking priceis $55,000.

He owns them free and clear.

He's owned them for fifteen years and used themas rental properties.

They all need work.

This one needs about $8,000.

A roof, a furnace,some cosmetic work.

It rents for $700 a month.

The taxes and insurance come out to $100 amonth.

This one is vacant.

Three of these are vacant, three are rented.

He says theyrent pretty quickly and when he starts advertising, but he didn't want to rent them if he wasgoing to sell and he doesn't have the money to do the fix up.

What can I offer him thathe might accept? He's retired, wants to stop being a landlord.

Kind of hates it and can'tdo the work on them any longer.

" Yeah, I don't blame him.

I hate being a landlord.

I hate to be property manager.

Get somebody else to do that work for you.

That's no fun.

You'll be burned out like this guy.

If he had somebody else who was managing his propertyfor all these years, it wouldn't be a big deal.

He'd just have them do it.

They'd betaking 10% of the income that was coming in, but he wouldn't have to do any of the work.

He wouldn't be burned out.

He'd be able to keep them.

They'd be in good condition nowbecause a good manager will take care of the properties.

They'll go back in and do thework when it's necessary and he will have properties that will be appreciated ratherthan depreciated which is what he's got going here.

So, he's owned these properties for a while.

He's got a lot of work that needs to be doneit.

If he's asking $55,000 and it needs $8,000 worth of work, that means the prices is goingto be $63,000 just to get it into a place where he can rent it.

If it's $63,000 andit rents for $700 a month, somebody coming in with $63,000, it's not terrible income,you know, I'm going the math in my head, but maybe 8% return on investment after payingfor principal, interest, taxes, or not, you're not going to – well, principal, interest – I'msorry.

If you're paying for it cash, you wouldn't have principal and interest, you have taxes,insurance and property management.

And my guess is it'd be somewhere in the 8%,9%, 10% rate, which is a pretty good return on investment if it's fully rented.

But notgreat.

And so, what can he do to make this work even better? And the better way to dothis is to make it, to give yourself more exit strategies and the way you can do thatis to get it on terms.

So if you got this property on terms for $55,000 and then soldit to an investor, let's say for $5,000, now you're up to $60,000.

He's got to put $8,000,he's going to be up to $68,000.

But if his payments are you know, if he's got rents for$700 a month and he's got $150 of that taxes and insurance, another $50 for, or $70 forthe property management.

Now he's down to $500, you know, let's say $450 a month, it'stake out $150 of that for himself, so $300 a month is what he can afford to pay on themonthly payment.

He takes that $300 a month, divides it into$55,000 and that's going to be the term of the payment, so, if you've got $55,000, dividedby $300, that's 183 months divided by 12, that's 15 years.

Now you've got a 15-yearno interest loan to pay off this property.

So, what happens is it pays the property offin 15 years.

Or you could put more towards it and pay off in 10 years or 8 years if youput the entire amount towards it.

So that would be a great investment for anybody becausethe entire principal is, every payment is entirely principal so every time you get ayou know, make a payment of $300, $300 is profit to you because it's paying down yourprincipal, even though it's not cash flow to you.

Plus you've saved another $150 a monthcash flow for yourself.

And that's probably the way that I would doit.

I would probably want to keep that property.

Maybe want to put the $8,000 in it myself.

Let's say I don't have $8,000 and I want to do this property, then I could sell it toan investor, you know, for the $68,000.

I get the $5,000 for myself and the investorhas to come with the, I guess that was the original scenario, wasn't it? I was sellingit to an investor.

So, I can either keep this property myselffor the $55,000, make the payments of $300 a month and then I have to come up with $8,000to fix it, or I could add $5,000 to it, sell it to an investor.

He makes payments on the$55,000.

I get $5,000 as cash.

I walk away from it.

He has to put another $8,000 intoit.

He's still got a good return on his money because you've set up the payment system forhim to get all principal, every payment that comes in is all principal.

And if you do that,it'll make it really easy for you to turn around and sell.

You might even be able toget $10,000 instead of $5,000 for it because it's still going to be profitable for himin the long run and all he's going to have to do is come up with $8,000 to buy this propertyfor the rehab and then you know, the $5,000 for you, or maybe $10,000 for you if that'sthe case.

So, his money into it instead of being $60,000or $65,000 is going to be $15,000 or $20,000 and there's a lot more investors out therethat have $10,000 or $15,000 or $20,000 to invest than there are people that have $50,000,$60,000, $70,000, $80,000 to invest and they're a lot more willing to do it on something likethis because it's got so much income coming in that pays itself down over time.

All right.

Hope that helps.

Hope it wasn't too muddled.

Thanks now.

Source: Youtube

HOW DO I SELL MY HOUSE | #ClosingTalk Ep. 18

Hey everybody thank you for tuning into the18th episode of #ClosingTalk.

We are coming from the Delaware waterfront talking aboutif I were you, how would I sell my house? See a lot of you guys are perfectly capableand knowledgeable enough, and have the intuitive nature to be able to sell your own house,but there are little things you do not know.

Hopefully we will try to dis-spell them.

Sorryfor any of the wind.

There is certainly enough out there.

Nothing I can do about it besidesfight it.

The #1 thing you need to know when selling your own house is listen, I don'tcare what anybody says; 90% of any sale, whether you are selling it yourself or whether itis an agent, is all price.

So if you have the property priced wrong, you are not doingyourself any justice.

See if I was you, what I would do is I would hire an appraiser.

Iwould spend the $450.

I am sorry to break it to you.

If you are trying to sell yourown house, it is going to cost money.

What you are trying to fight with is just how muchmoney is it going to cost.

Beings that price is 90% of the concern here, you need to doyour due diligence.

I am not talking about an appraiser that is going to be an end allbe all, because your buyer is going to have their own appraiser.

At the end of the day,what the appraiser is going to do for you is let you know where to price the property.

See if you price it wrong, the property is going to sit.

If you price it right, I don'tcare what type of distribution you have or what those photos look like, your propertyis going to sell.

It just depends how many offers is it going to get.

See if you knowthe price of the property, you can hone in and know for yourself that you are gettinga fair deal.

See a lot of people think their property is worth a lot more than it actuallyis and they are trying to squeeze every dollar out of it.

That is why they are not gettingtheir property sold.

By having that appraisal done yourself to know a little bit more aboutthe market and give yourself an upper hand to know when you have a fair deal.

In today'smarkets, that is what sells, a fair deal.

No one is trying to take the shirt off ofyour back, but everyone wants to be treated fairly.

The reason why your house is not sellingis because you are not treating the buyer fairly and you need to do that.

How wouldyou like to be treated if you were on the other end of the stick.

Buyers have so muchaccess to information today that you need to price properly.

Anyone can see throughyour little cloud of smoke.

There is just too much access to information that you needto price the property right.

Now, how can you distribute it? You can spend a nominalamount and go to a variety of people who will place your property on the MLS, which is thesame service that us realtor's use.

You can enter it on Zillow.

Com and Trulia.

Com becausethey are all the same site.

You will not be able to enter it on Realtor.

Com because thatis only for REALTOR's, but that is a nominal price for the price overall that you are goingto be saving in commission.

Now lets talk about commission.

Just because you are sellingyour own house does not mean you are going to get lucky and end up not paying a buyerside commission.

You should go into this thinking you are going to be paying 3%.

Listen, ifyou get away with paying less, good for you.

At the end of the day, even paying a buyer'sagent 3% who is capable, willing, and able, is going to save you a lot of time effortand energy.

See, I do not care if your family member is in real estate or you have previousknowledge, at the end of the day, you do not know.

So, there is going to be things youneed help with in the transaction, whether you are represented or not with paperworkand whatnot.

So at least by paying one side of the transaction properly to the right personwho deserves it, will probably get you a little bit farther than just trying to be cheap,and that is what for the most part a For Sale By Owner is.

It is being cheap.

So if youcan master pricing your property and if you can master marketing your property, whichthe marketing is relatively nominal, to fill in the gaps, if you are in an urban area youcan do open houses, otherwise if I was you I would and trying to market your property,I would call the different brokers in the area.

They are going to be a wealth of informationto where as long as you are offering a buyer side commission, who knows, they might haveclients for you and being proactive is always better than being reactive.

So let me knowwhat you think! Have you recently tried selling your own house? Is it going well.

Let me knowbelow.

At the end of the day, I am here for you regardless of what you decide to do.

Whatevercity you are in.

If you are in Philly, New York, or out in California, I don't care,I am here for you.

I am the guy who can help you connect the dots between what you thinkyou know and really need to know in order to be successful in today's marketplace.

Atthe end of the day, this is all about you and your success.

Source: Youtube