Wednesday, December 20, 2006

How to be a successful landlord.

Becoming a successful landlord is within your reach if you know what you are doing.

If you get all of the information you need before you start, and then move forward from there you should not run into any problems. The only thing that you have to worry about is getting on track, and then staying the course along the way. The good thing is that as you become more and more comfortable working as a landlord you will get better at handling everything that comes your way.

Here are five landlord tips that you will want to keep in mind if you are new to the industry. These will help to ensure that you are on the right path to success and profits from the very start.

1. Make sure that you research the landlord industry before you decide to jump in. This is one of the most overlooked landlord tips because nobody wants to do research. They want to jump right ahead to making money. Even though the money making process is fun, you need to research first if you want to be a success.

2. Talk with others who have been landlords in the past. When you do this you will be able to get a lot of information on the industry. They will be able to give you a list of landlord tips that they have compiled through their time in the business. Never overlook the information that you can get from other people in the industry.

3. The property that you buy should be one that you can rent out as easily as possible. Do not make the mistake of buying a property that is going to take a lot of work, or may never meet your needs. If you do this you may never reach your goal of becoming a landlord.

4. Treat your tenants with respect, and they will do the same for you. This is one of the most important landlord tips. You need to remember that just because somebody is renting from you, does not mean that you own them. If you respect your tenants they will pay you on time, and make sure that they keep your property in good shape.

5. Always make sure that you collect the payment that is due to you. Do not make the mistake of getting disorganized and missing out on collecting what is due. Remember, you can make a lot of money as a landlord. But only if you collect what is due to you.

If you can follow these 5 tips you are on you way to a successful and profitable career as a landlord.


Download free advice that can help you make great profits as a Landlord:
http://www.freelandlproperty.com/landlord.htm

Using the Internet to find a Home or Condo

The Internet has revolutionized the way people find, buy, and sell homes. It offers a wide range of possibilities and numerous advantages for home buyers and home sellers. Using the Internet to find a home or condo takes a lot less time and effort than searching in person.

If you are new to the world of virtual real estate, this article can guide you through the simple process of finding a home, condo or any other type of real estate on the Internet. You can conduct the house hunt from your own personal computer using the Internet. If you are interested in new-construction homes and condos, most homebuilders have their own websites that will help you find your new dream home. A few minutes on the Web and a few clicks of your mouse can get you the full scoop on homes, condos and other real estate, neighborhoods, school information, and current real estate market trends.

If you are a prospective buyer, you can start your search by finding Real Estate and home-selling websites on the Internet. Many of these sites allow consumer access to real-time home, condo and real estate data from the Multiple Listing Service (MLS) database. You can search through the MLS by entering details such as the location of your future home, approximate price, year built, the size of the home such as number of rooms and baths, as well as other features. The website then presents a list of homes or condos that fall within the criteria you specified.

Many home selling websites offer detailed descriptions of properties, as well as pictures of the interior and exterior. Through these virtual tours, you can electronically walk through the home, which gives you the feeling of having actually visited it. The websites also provide details of home or condo developments that are under proposal or construction. These conveniences allow even out-of-state residents to find their next home or condo by using the Internet. Many such websites offer an online mapping service that shows you the location and surroundings of the house. With a few clicks on your mouse, you can get a closer look at the properties you are interested in and map your future home’s proximity to offices, stores, schools etc. Some websites also offer a satellite photo the properties available in their database.

You can quickly go through as many homes as you want using the Internet. The Internet helps you become a knowledgeable home buyer so that you can make an informed choice on your next home or condo. And once you have decided on the home you want to buy, you can enlist the services of a real estate agent to help you execute the complex real-estate transaction.

Article writen by San Diego Condo

Monday, December 18, 2006

Tips For Your Real Estate Finance and Investment Strategy

You may have decided you would like to start investing in property but you are not exactly sure how to go about it. One thing you should do before you begin is to research the financing options that may be available to you.

Most people, when they first begin their endeavor with property investing, find that financing is their only means of purchasing property. The following is some information regarding real estate financing and investment strategy that may be beneficial to you.

When you hear the term "leverage" applied to real estate financing and investment, you will find that this term simply means to use borrowed money for financing your property investment. Your initial investment will be the money that you use for a down payment.

In order for this leverage to be beneficial in your real estate finance and investment strategy, you will want to secure the borrowed money at a low-interest rate and make sure the term of the loan is over the longest period of time that is possible. This is to avoid yourself from being tied up in the property and having least money for your own or other investment usage.

You do have to remember, however, that the risk of your investment is tied in directly with leverage. If you place a small down payment on the property, the leverage is high and the ratio of the amount owed to the value of the property is high, making the property a high risk. The more money you put as a down payment on the property, the lower the leverage and the lower the risk.

Many, in their real estate financing and investment strategy, use pyramiding to acquire more properties. What this simply means is that you are using the equity on one property to help you purchase another.

For example, you purchase a property for $100,000 by making a down payment of $20,000 and borrowing $80,000. The properties value at the time of the purchase is $110,000. Six months later, you have a positive cash flow of $1,000 a month on the property and its value has increased by $40,000 due to your renovations. You now have equity of approximately $70,000 or more in the property.

You take out a home equity loan of $30,000 and this is used for the down payment of another investment property. This is also known as pyramiding and is a real estate finance and investment strategy used by many.

Pyramiding through sale is also another real estate finance and investment strategy used by many, as well. In this method, when your property's value has increased, you sell instead of taking out a home equity loan.

In the example above, if the same property was sold for its value of $150,000, you would use the money to pay off the initial loan of $80,000, deduct your initial investment of $20,000, what you have paid in interest and principal, as well as the cost of renovations, to discover you've made a profit of approximately $25,000 to $30,000 in a matter of a six-month period. This money can then be used as a down payment on another property.

Before you begin investing in property, it is crucial to understand what real estate finance and investment strategy you plan to use. However, it is also important to understand that property investment comes with risk. Research the facts and figures before you make any decision with your real estate finance and investment strategy.

Sunday, December 17, 2006

How to get a good mortgage quote

Shopping around for a mortgage quote can be a tedious and time consuming process.Here are some tips to help you get a good mortgage quote:No matter how strenuous the process may seem, it is in your best interest to do the work it takes to find the best mortgage quote for your budget.The cost of not shopping around could end up being thousands of dollars. When you are paying too much for a mortgage, you often don’t realize it until you have already given away thousands of dollars. Your hard earned money is an excellent reason for to shop around for mortgage quotes.Much of the work that goes into a mortgage quote is done by the lender. The loan officer uses your information to determine how much of a credit risk you are and whether or not that risk is acceptable.You can then be given a mortgage quote by the lender. Even though the lender does the work of deciding your credit risk, there are some things you can do to make sure you receive a reasonable mortgage quote.Being honest on your loan application is one of the best things you can do to receive a reasonable mortgage quote. Since this information will be verified later on, it is best to be honest upfront.If you receive a mortgage quote based on incomplete or untrue information on your application, the amount could be reduced once your loan application is approved. This could affect any sales contracts you have negotiated based on the mortgage quote you received.Reveal as much about your credit as you can to the lender. No one wants to admit the blemishes they have on their credit report. However, the cost of not admitting these is too high. Many times the initial credit check done to give you a mortgage quote is not as thorough as a subsequent credit check.If you know that there are items on your credit report that could affect your mortgage quote, it is better to introduce those upfront. If not, you could have your loan amount adjusted within days of closing. Give your loan officer as much documentation as possible about your credit and income to ensure you receive a reasonable mortgage quote.Know that it’s alright to walk away from a mortgage quote that does not serve your best interests.There are so many sources of mortgages out there that it doesn’t make sense to get stuck with a mortgage that does not favor you in the way that you would like.Keep looking for mortgage quotes until you have exhausted all of your resources. It may take some time for you to find another reasonable mortgage quote, but you will be glad you spent the time doing so.Remember that the mortgage quote you receive is just an estimate of what the lender believes you will be approved for based on information provided at that time. After your income, assets, credit, and employment are verified the loan could be above or below your mortgage quote.

http://www.freelandproperty.com

Monday, December 04, 2006

Cedar CIty Utah Real Estate

Cedar City is still a great place to invest in Real Estate. Many people see this slow down as the market crashing but this just is not the case. Cedar City is still seeing termindous growth and will continue to grow as people want to get out of the highly populated areas of Southern California and Las Vegas. In Cedar City you get 4 amazing seasons and a plethora of activities all with a small town feel.

The Utah Shakespearian festival is a staple in the local Cedar City culture as well as many other festivals. (Cedar City is named Festival City)

If you are looking for Real Estate in Cedar City please contact Sam Dodd for all your real estate needs. Sam would be happy to help you with your real estate needs in Southern Utah.