Category Archives: Uncategorized

I’m thinking about buying a home, what questions should I ask?

First Time Home BuyerI’m thinking about buying a home, what questions should I ask? We want you to help make your first home purchase as easy as can be and to do that, there are things you should know.  The Friendly Home Team teach our clients at our first time homebuyer classes that you should get a free copy of your credit report. On average 50% of all credit reports have errors on them of one sort or another. (Most are small, but some can be huge and keep you from owning a home) This can do two things? One increase your interest rate or two keep you from getting the home of your dreams) Once you get your credit report, look it over very carefully and dispute any and all errors. This can take time to correct. Now that your credit is looking good, now would be a good time to call us for some suggestions on great mortgage brokers. (Or check out our website for suggestions) Interview a few of them and ask questions and get a good faith estimate. (Fees do vary greatly)

Now, when looking at homes, I suggest talking to your agent (As much as possible) about what you are looking for. Remember they can’t find what you are looking for and send you great listings if you don’t tell them. The Friendly Home Team uses a system that gets updates every 30 minutes from the MLS, not ever 24 hours like some. So, if you home comes on the market it, you will get to see it first! Also, stay away from sites like Zillow and Trulia, those sites show homes that aren’t actually for sale, just to get your information to sell. (We can’t count the number of calls we get from disappointed buyers when they find their dream home only to find out it sold 3 years ago or isn’t actually for sale at all)

Now, you are ready to buy a home! When the market is hot like it is now, when you get that email or text from our team that we found your new home, jump in the car and go view it, don’t wait or you may lose out to someone who got their first. I had a buyer the other day that decided to wait and there were 17 other offers by the time he decided he was ready to see it. Had he been there when we texted him the day before, he may have been the only offer.

So, call or email the Friendly Home Team today and we will help you get on the path to home ownership. (Or visit our First Time Homebuyer page and sign up for a class)

 

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Buying a government owned home can cost you as an investor!

Buying a government owned home can cost you as an investor! But, how could that be? They are selling for so cheap and I know I can repair and make a hefty profit on it in a short amount of time. But, what you don’t see is the fine print on that real estate contract and if you have an agent that hasn’t told you about the fine print, they could be costing you thousands in profits!

look

You see, those deals aren’t always the deals they look to be. One of the things the government tries to do is to sell to someone who wants to be an owner occupant first and if that doesn’t work, then the open it up to investors.

Now, depending on the type of investor you are, it could be potentially dangerous to your pocket book to buy one of these government owned / HUD homes. (Click on link to get your free list of Government owned / HUD homes for free) Why do you ask? Well, if you are buying one of these homes for the purpose of renting or doing a lease option, then these are perfectly alright to buy. But, if you are looking to flip, be very, very careful.

You see, the government doesn’t want you to make too much money? (Don’t ask me why, you think they would love the tax revenue) But, in their contracts it usually has something to the effect that you can’t sell said property for more than a certain amount of money in a certain amount of time. So, even if you put in $50,000 worth of upgrades, add extra bedrooms, you still may not be able to sell it for more than $20,000 than you bought it for. (See, how that could cost you???)

So, when buying Government owned / HUD homes for investment purposes, be very careful and read the fine print!! Call the Friendly Home Team today and we will connect you with our investment team who specialize in helping investors find the right properties for them and getting them started on the right foot to profits.

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How To Sell Your Home Quickly and For Top Dollar!

When you set your property available on the market your real estate adviser presumes you want to market your property at a price for that best amount of money after the sale. In case this specific not what you have in mind, you should explain to your real estate adviser in advance what you would like.

Dollar signs

Your house that sits available on the market for years it won’t do you as well as your real estate agent any good. The simplest way to promote your property easily would be to selling price that accurate in the first place! Lots of people think that you simply set the selling price of your property high and come down over time. This may not be a great technique to get your house sold at top dollar. (It may actually do more harm than good) You’ll find a couple of reasons why it is not best if you make use of this plan: Initial can be current customers are considerably more educated along with know what a great selling price can be all of which will just bypass your property all together and move to the one which can is priced correctly. The other thing that can work against you is that being a house sits available on the market for months people start to assume something is wrong with it. Properties which are costly in the first place finish tend to sell for 10% less than this residences that have been priced correctly from your when they went available on the market. (Information from this National Affiliation of Realtors.)

The other issue which could preserve a homes selling price is controlling overall appeal. Curb appeal and overall appeal doesn’t have to be complicated. It could be just getting a couple of blossoms in the entry to help spruce up what sort of house looks. Yet it can be a lot larger of the issue, like a neighbor that has a yard you are embarrassed by each and every time your home is shown. The messy neighbor could be a more complex issue to resolve, but it also may not be. If you seek the services of a landscaper for you and your the next door neighbors yard, at the cost, it is going to simply cost you a couple 100 and I’m sure your neighbor wouldn’t mind free landscaping. (I know I wouldn’t pass it up) Just let your neighbor know that you are trying to sell your property and as an added bonus, they get their yard in tip top shape for free!

Don’t forget, a home which a buyer is very excited about before they even enter through the doorway can be just one they are more inclined to love and buy without even seeing the inside. Don’t forget once you discovered your home? Anyone remembered what the outside appeared to like? Yep! and you would not have a hard time explaining it to your best friend, but when they asked about the house you couldn’t even remember if there was a walk-in closet or not. The overall curb appeal can be what carries a home to closing; it truly is seldom what is on the inside that hooks a buyer’s interest. So, grab a can of paint, some fresh flowers and a pressure washer and make that home shine on the outside! (Still the inside needs to be nice, but it isn’t what grabs the buyers first)

For more info on how to market your property and get it sold more quickly, call the Friendly Home Team today or click here to find out your homes value

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Make you investment property work for you, not “More work for you”

Have you ever heard the saying the only way to make money in real estate is to buy low and sell high? Well, I have to say that is completely true, but did you know there is more than one way to sell your property and possibly even make more money?

House vs Profit- Photo courtesy of FreeDigitialPhotos.net

Well, my investors work with me because I find them the deals! The ones that aren’t listed on the MLS and are priced 20-30% below retail (I’ve seen many $100,000 below the zestimate) But, then they either do a few fix ups and flip it immediately if they see another deal coming up quickly or they do a lease-option on the property.

What does a lease option do for you as an investor? First it gives you a down payment to use on your next property and it gives you monthly income that you can use. Second, it helps you make even more on the property by marking up the cost. A person who needs to do a lease option knows they are going to have to pay more than if they used a traditional mortgage or cash.

But, think about it… If you got a $5000 option payment before they even moved in, more than market rent ever month and they decide they can’t do it or don’t qualify at the end of the lease, you get to keep all that money and do it all over again. $10,000 profit and the chance to sell it again at possibly an even higher price, sounds pretty good to me.

If you are interested in learning more about lease options, come join us at one of our Empowered Investor club meetings. Click here to sign up for The Empowered Investor monthly newsletter.

 

 

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Don’t walk, run from that “Real Estate Deal”

Too many new real estate investors buy investment properties for emotional reasons. (They grew up in the area, they like how the house looks or the feel of the property) Emotions are not a reason to buy an investment property. The only thing that should matter in an investment property are the numbers! If the numbers don’t work, move on to the next property!

Real Esate Profits - Photo courtesy of FreeDigitalPhotos.net

Why don’t we start with a simpler thing since everyone has access to the MLS through every agents website. Lots of people are already attracted right into a awful package, basing their own foreseeable future gains about the wonderful words and phrases “potential rental prices are… ” Info associated with hire portions in addition to costs provided from your itemizing are frequently wrong and therefore quite misleading. It’s not at all soon you notice current rents featuring proper portions, phrase length and the circumstances in the rents are you able to understand fully your wages situation. It is usually imperative to comprehend the total level of your respective costs by requesting to determine all bills, latest estimated costs, property taxation’s, insurance coverage in addition to any companies for example landscaping design or perhaps ideal elimination.

A great team will have access to deals (Wholesale Properties) that aren’t listed on the MLS and are usually priced 20-30% below market value. These properties are foreclosures, auctions and short sales that are available at deep discounts because they aren’t on the MLS. These types of deals mean more money in your pocket in the end. Talk to your agent and if they don’t have a list of these types of homes, you may want to find an agent who deals in wholesale properties on a regular basis.

If you are in the market for wholesale properties in Oregon or SW Washington, don’t hesitate to call or email us and we will get you a weekly updated list of wholesale properties that aren’t available on the MLS.

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Investing doesn’t have to be a solo venture!

So many new investors think it is them against the world, but there is a better option. Find someone you TRUST! Investing in real estate doesn’t have to be a sold venture and it shouldn’t be. A great agent will show you the numbers and why it will work or it won’t. They aren’t just looking for a sale. The good ones know that a great deal will mean future deals and not just a paycheck.

Handshake Photo courtesy of FreeDigitalPhotos.net

Consider this when looking for an investment property. An agent looking for a paycheck will always be talking to you like you have to buy this without any reason for you to buy it. A great agent will tell you that it is a good or great deal by showing you the numbers to back it up.

Remember if your agent acting like a partner in this, then it maybe time to find a new agent. There are many agents out there living commission to commission, but the good ones aren’t afraid to let you let a home go if they don’t think it is a good deal for you.

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Are you a clueless investor?

I look at about 75-80 properties a week that wannabe investors send me by email or call me about. Most of these properties they found on Zillow and can tell right away that they have a steal based on the Zestimate, but what is the real story….

Well, the real story is Zestimate only looks at square footage and sales price, it doesn’t know the real value of the property. Heck, if it was such a good deal, do you think it would be for sale on Zillow? The answer is NO!

The homes you find on Zillow are homes that are for the retail market, not wholesale properties that the great snap up the day they come on the market. If you want to see real deals, contact me and I’ll send you a list of homes that are truly wholesale, what needs to be done to them and the REAL estimated value of what you can sell them for when you are done.

Email me today if you don’t want to be a clueless investor and want to be an Empowered Investor. Also, ask to be put on our Empowered Investor Newsletter list and get tips and tricks to get the most from your investment properties.

 

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Safely Invest by Avoiding Mistakes in Real Estate

Goals in investingLand alludes to land and changeless installations, including structures and different articles connected to structures. Three different classifications exist inside this expansive heading, including private, business, and modern. When you consider this venture opportunity, you may buy arrive, a house, an office fabricating, an industrial facility, or a retail assembling.

Rentable houses

Obtaining a rentable house is a conventional strategy for putting resources into land. With this situation, you buy a house, condo building, townhome, townhouse, mechanical building, or office building. When you possess the building, you then locate an inhabitant or inhabitants to lease it. As the proprietor, you have the obligation of paying consistent home loan installments, duties, and protection. You will likewise have the obligation of keeping up the structure to keep it safe and in great repair for your inhabitants. Ideally, the rent you gather will cover the greater part of your possession costs, in addition to extra cash that will pay you profits for your proprietorship endeavors and the cash you have contributed. A typical system is to situated rents to cover your costs just. This procedure includes persistence, on the grounds that you won’t make a benefit until after you complete the process of paying off the home loan.

Flipping Houses

Flipping houses is another venture choice to consider. When you participate in this sort of exchange, you look the business sector to discover summary homes available to be purchased. You may have the capacity to discover open doors inside the abandonment market for flipping houses. The procedure then includes purchasing a house requiring little to no effort, performing different redesigns and rebuilding efforts, and afterward offering the home rapidly for a benefit. It’s important to have enough money to empower you to pay for the home loan and any critical remodels to the house to empower you to make a benefit. For the most part, flippers attempt to finish the whole exchange of introductory buy, recovery work, and exchanging inside 30 to 60 days for ideal benefit. The more extended the exchange period, the less you will benefit.

Four Steps for Avoiding Mistakes

As you ponder your speculation choices in land, learn regular missteps to empower you to stay away from them.

1. It’s essential to arrange the procedure totally before you make headway, knowing your way out methodology from the earliest starting point. Figuring your systems as you come will probably end in oversights and issues. Continuously know your primary concern number for making offers to guarantee that you stay operating at a profit.

2. Take in the business sector before you continue. Consider joining nearby relationship of financial specialists to find out about the business in your geographic range. Instruct yourself about abandonments and proprietor inhabitant law so you see all the points of interest included with your exchange.

3. Build up a group of different experts that you can trust to help you with your exchanges. This group may incorporate a lawyer, a land specialists, a home investigator, an appraiser, a bank, and a builder.

4. Judge your income reasonably. This can be particularly critical in the event that you are obtaining rentable houses. Verify that your rental pay will cover your upkeep costs, particularly on the off chance that you need to contract a property director to support you.

Dallying in land can be a lucrative venture. Verify that you instruct yourself and continue precisely to succeed.

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Make Your Property More Attractive for Homebuyers

Ensure a Good First Impression

Homebuyers make up their minds about a property in the first few minutes. Make sure your home makes that vital first impression. New paint does wonders. Make sure the front yard is flawless with manicured lawns and attractive foliage. Add a hanging basket or some flower pots at the door. The front door is also critical, make sure the hardware is presentable.

Make them Feel Welcome

Don’t forget buying a home is in many ways an emotional decision, so it’s important to give buyers that warm and fuzzy feeling! Keep the temperature in the home at a comfortable level. Light some candles in the bathrooms and make sure it smells nice and clean. Have fresh flowers around the house.

But don’t make it too personal

Make them feel welcome, but don’t go too far. Too much personality, for example in the form of personal possessions and family photos makes it hard for buyers to visualize living in the space.

Clear out the Clutter

Make sure your property is clutter-free for all your viewings. This will make your home look and feel bigger, and the buyers will be able to imagine how they could make the space their own. Make sure that there is a clean, logical flow through the home by getting rid of all excess furniture. Less is more.

Improve Lighting

This is another way to make your home seem more spacious. Open all your curtains and flood the space with natural light. Make sure the darker rooms are also lit. Invest in some light fixtures and fittings, and place them strategically to illuminate even the gloomiest of areas.

Decorate to Sell That House

Slap on a fresh coat of paint in a neutral color to give it that blank canvas look but do not be too sterile. Have some contrast in the trim as well as the ceiling. Neutral colors make properties appear lighter and brighter, so take advantage of this inexpensive and easy option. You may also add color with decorative window coverings, rugs, and towels.

Clean Up Your Act

Your home should be spotless. Make sure the beds are made and the countertops are free of clutter. The dishes should be put away and nothing should be scattered on the floor. Don’t forget to tidy your garden too: Cut the shrubs back, sweep the patio, and wipe down the backyard furniture.

Those Minor Repairs You Put Off

It is easy to forget things such as broken doorknobs, cracked tiles, holes in walls and damaged but buyers will notice them first thing as they are walking around your home.

Maximize Your Space

The golden rule of selling is to make your space look and feel bigger and better than what your competitors have to offer. We’ve already mentioned that lighting your home, both naturally and artificially, can maximize your assets, but getting rid of bulky furniture can also be a great way of making the most of what you have. Large pieces of furniture make a space feel smaller, so put these items into storage and dress your home with more compact pieces.

Don’t Forget Your Floors

Make the investment of improving and investing in those floors. Worn carpets and damaged vinyl floors need to be replaced, and wooden floors especially should undergo some maintenance. This is not chap by any means, but the prospect of selling your home for the best possible price will likely outweigh the cost.

Remove Pets During Showings

You do not need to remind the potential buyer that the previous owner kept pets.

Try to remove your pets from your home when you are showing the home. Having a pet in the house or yard can create complications for your agent while trying to show the house, and puts your pet at risk of accidentally getting out during the showing. There are also liability issues to deal with as well. They may react differently to stranger and it may cause them stress. All pet-related damage should be repaired prior to showing the home. Make sure to also remove all odors and stains. New visitors will notice smells when they come to view the house. This is not something you want to happen. Have your carpet and floors professionally cleaned or replaced. Pick up any messes in the backyard and have any sod replaced and other damage repaired.

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