Tag: Why

Why Your Home Didn’t Sell

So, your home didn't sell.

You had it on the market for a few months,and your agent couldn't get the job done.

Well, you're not alone! Everyday in the greater twin cities area,70-100 homeowners find themselves in the exact same situation as you.

Let's take a look at why that is.

Have you ever heard of the 80/20 rule? It states that 80% of the results come from20% of the effort.

Well, in real estate it is actually more like90/10.

90% of the work is done by 10% of the agents.

Did you know, that according to the NationalAssociation of Realtors, the average real estate agent sells less than 3 homes per year? That means most of the agents that you willever meet are literally starving for business.

Well, think about it this way.

If the normal agent is literally starvingfor more business, they'll say or do just about anything to get you to list your propertywith them.

At the end of the day, if they can't sellit, they still win! Because they have a for sale sign in frontof your house.

Most agents will pick up a new buyer, andpossibly a new listing just by having that sign in front of your house.

So, you just became a marketing piece forthem for the term of your contract.

Things making sense now? To top it off, now that your house was takenoff the market, you've got dozens of agents calling you, knocking on your door, and they'reall saying the same thing.

That's because the real estate industry hasalways taught new, unexperienced agents to prospect for new business by targeting canceledor expired listings, and that's you.

So, your property was listed with an agentthat couldn't get the job done, and now you're being bombarded by more starving agents, thatwould have the same result as the last agent.

But all along, all you wanted to do was sellyour home, at a fair price.

Have you noticed how I am not knocking onyour door, begging for business? That's because I have more important thingsto do, like sell the homes that I currently have listed.

In fact, my business was designed to helppeople in your exact situation.

The difference between me and the ordinaryagent, is that I'm not starving! I'll tell you exactly why your home didn'tsell, and what we need to do to make it sell.

If you like me, and I decide to take yourlisting, you can almost guarantee that it'll sell.

Pretty simple right??? So, here is what you need to do: Go to mywebsite, REinMN.

Com and check out how your home will be marketed.

And when you're ready to talk, you can putyourself right into my calendar, or reach out to me.

It is all there for you at my website andwe'll see you soon!.

Source: Youtube

Why Use Video To Sell Your Home?

So, you've decided that you do want to sellyour property and of course do it as quickly as possible.

But there are lots of other propertieson the market that are the same as yours.

They have the same number of bedrooms, receptionrooms, garden space, and they're in the same location and more importantly, in the sameprice bracket as yours.

So what you need is an edge.

Well having a film made about yourhome is a fantastic way to market and sell your house.

You may have some fantastic featureswithin your property that photos and floor plans simply do not do justice to.

Video isa great way to showcase these features, and the rest of your property too, and rememberthis is going to be seen on you tube, estate agents website, and also right move.

So dospeak to your estate agent today and we look forward to filming at your home very soon.

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

Why You Should NEVER Rent to Own Anything

Can you tell me why you should never rentto own anything? If you miss a payment, they can take everything.

That’s why it is called a rental.

But itlets me afford to get things in the house now, and that repo won’t land on my creditreport.

You pay as much in a year as it would costto buy the darn thing, up to twice as much as new.

And a lot of the rental appliancesand furniture are in worse shape than if you bought it new.

What can I do then if I can’t afford new? Have you considered Craigslist? I’m afraid it has bedbugs, fleas or both.

Try garage sales.

Then at least you’ll havethe person’s address in case it’s a piece of crap.

That doesn’t work when I need a workingwasher or dryer.

The Laundromat should fit in your budget,if you’re paying rental place rates.

That takes up too much time.

Go to the Sears Outlet place.

They have scratchand dent appliances for sale.

That sounds like the scratch and dent grocerystore, and I wouldn’t dare shop there.

The dishwasher motor and washing machine gutsshould work just as well.

It’s only the shiny smooth outsides that are scuffed up.

How much do I save? You could save anywhere from 20% to 60% onthe price of a new one, more if it is last year’s model.

If you’re really desperate,you could put it on a payment plan or credit card to buy it.

I can’t stand credit card interest rates.

You pay just as much or more per year if yourent to own and then miss payments, getting assessed with fees.

When is rent to own ever a good idea? Shouldyou do it if you only need furniture for a few months? In that case, pay extra for a furnished apartmentor live on a futon and card table until you can afford the furniture.

I don’t want to live like a starving student.

It’s just until you can upgrade to Mid-Americangarage sale.

Source: Youtube

How To Sell Your House Fast – Why Is My House Not Selling?

Kris Krohn with REITV, and you've asked it! We've got the answer.

What do you do TODAY if your house your trying to sell is NOT selling?? "My house isn't selling! What should I do?!" Drop the price! Listen, I know that that may not be what you wanna hear, but it is one of your options.

There's a chance that youmight be thinking that your house is worth more than the market is telling you that itis.

There's a chance that you got advice.

Listen, it happens in the world of real estate.

We take our best guess and I'll go to my experts and I'll say "What should we list this at?".

And you know what? Often, they're right on the money.

Sometimes, they're low, and sometimes were too high.

And if that's the case, then you need to live within reality because it doesn't matter what YOU think it's worth.

I don't care how much money you put into the landscaping of the yard or how much you've put into repairs, a $50,000 yard does notmean that the house is worth $50,000 more.

In fact, very minimal repairs actually gointo increasing the value of a home.

So, the most important thing here is to first, make sure that you operate inside of reality and the market – the people that live in your area, they're gonna tell you what's real.

Your second option is actually doing a lease option.

Lease option is where it doesn't make sense for you to actually sell your housein the market and yet maybe you still want to move.

So what can you do? Well, you can collect the down payment with the seller financing option.

A family maybe gives you a 3, 5, $7000 of a down payment saying "We'd like to move in to this house and we'll cover the payment".

And depending on how your mortgage is structured, you could get BOTH a down payment in the thousands of dollars and you could collect a positivecash flow on that property.

And that also is another way to say 'Hey,if the market isn't going to allow me to sell my house for what I need, then this is anexcellent strategy for holding on to it longer until it WILL SELL and MAKE MONEY.

But in the meantime, I can still move on with my life if I have to leave the state or takea new job or simply move into a different house.

If you liked this video, we have a lot morecoming your way, but you GOTTA hit that Subscribe video so we can make sure you know about every one of them.

Thanks so much! We'll see you next week!.

Source: Youtube