As with any investment, part of planning is knowing how long you are going to keep it. If you plan on keeping a property for 20 years, chances are you’re going to have to replace the roof, water heater and other items with a limited lifespan. If you plan on keeping the property for only 5 years, then you’ll want to avoid those costly items if possible. Or, at least take them into account with your costs and purchase price. Continue reading “First Time Real Estate Investors: Long Term (Part 3)”
First Time Real Estate Investors: Value (Part 4)
If you are just tuning in and are interested in investment properties, take a minute to browse through my previous articles before you get started. Part 1 – Tips for First Time Investors. Part 2 – Is it a Good Rental? Part 3 – How Long is Your Horizon?
So, you’ve found a couple properties that might be a good investment. How do you know if they are worth it? First, when looking at a potential investment property, use actual numbers, not future projected numbers. Continue reading “First Time Real Estate Investors: Value (Part 4)”
First Time Real Estate Investors: Final Steps (Part 5)
To wrap up this series on investment properties, let’s take a look at some final pieces to keep your investment an investment. If you haven’t read previous articles, start here for some worth while information on how to look at investing.
Investment-Income Producing Properties are a wonderful thing to have. While everyone else is waiting for the market to change, this is the ideal time to negotiate some fabulous deals. But it takes more than just purchasing a property to make it worth your while. Continue reading “First Time Real Estate Investors: Final Steps (Part 5)”
Understanding Foreclosures: supply & demand (Part 1)
Real Estate is all about supply and demand. In my area, almost all short sales and foreclosures are listed through our multiple listing service. These homes are available on the market, just like all the other homes in the area. Good investors do not like to get caught in bidding wars. That defeats the purpose and the good deal usually goes right out the window.
If that property has not sold under the normal market conditions, what makes you think you are getting a good deal at the auction? Continue reading “Understanding Foreclosures: supply & demand (Part 1)”
Understanding Foreclosures: Buying Foreclosure (Part 2)
There is a misconception out there. Many beginning investors and homebuyers automatically think foreclosures are a good deal. Unfortunately, I’m here to tell you they rarely live up to the “hype” and they are certainly not easy.
Sellers who go into foreclosure will stop making payments for a variety of reasons. Continue reading “Understanding Foreclosures: Buying Foreclosure (Part 2)”
Understanding Foreclosures: How Long? (Part 3)
If you are considering buying a property at a tax foreclosure auction, there are many RISKS you should be aware of. Remember, auctions are BUYER BEWARE sales. I can’t stress that enough. The County will make no representation about anything regarding that property, so it’s up to you to deal with the issues and do your homework.
There are different types of foreclosures. The type I’ll address here are tax foreclosure sales in Washington State, specifically Snohomish County. Continue reading “Understanding Foreclosures: How Long? (Part 3)”
Understanding Foreclosures: Do Your Research! (Part 4)
So, what are some of the issues that you need to address before finding a suitable investment? Continue reading “Understanding Foreclosures: Do Your Research! (Part 4)”
Distribution of Investment Planning
Now is the perfect time to consider investing in the real estate market. But, you should NOT just run out and buy the first property that comes along. There is some planning that you should do first.
With that said, don’t put all your money into one basket. In order to invest smartly, you need to distribute your wealth to your advantage. Continue reading “Distribution of Investment Planning”
How to Be a Savvy Loan Shopper
Be a Savvy Loan Shopper… by Jen Hudson, GRI
When buying a car, you want go out and compare the best deals available, right? If you find a car that is a “steal,” then you know you should look a little closer at the details and ask why. Are they offering a warranty, a dealer incentive or maybe you are trading something else in. Would you agree that these different details could drastically impact your final sales price?
Well, the same principal applies when shopping for a home loan. You certainly don’t want to wind up with a lemon, so learn to be a savvy shopper. Here are some tips and common mistakes people make when shopping for a home loan. Continue reading “How to Be a Savvy Loan Shopper”
3 Considerations Before Investing
3 Factors to Consider Before Investing
Investing in real estate can certainly be a lucrative investment, but only when done right! The flip side of that is that it can also turn out to be not only a financial nightmare but a huge burden emotionally when done wrong.
Before you even start thinking about investing, you need to do your homework. I don’t mean just looking at returns like most “investors” do. There is so much more than the $/sf, the cap rate today or even the purchase price and interest rate you’ll pay on the loan!
There are 3 main categories you must consider when analyzing real estate investments. Continue reading “3 Considerations Before Investing”