I have created a widget for anyone wishing to text me with any questions on any property found on the GA MLS sites. Our home page found at ww.georgiapopertyLLC.com will display every home on the MLS; text me anytime. Courtesy of RETECHBLOG.com
Tuesday, November 25, 2008
Friday, November 21, 2008
Are You Considering buying foreclosures?
Foreclosed homes are a hot topic in today's market. And many are jumping onboard the band wagon. In fact, real estate investors are pooping up pretty regularly now. Smart. Traffic at www.foreclosureswow.com has increased dramatically.
But, that doesn't mean these investors are wise or know what they are doing in this process. Some concerns are necessary, and pertinent. The vast majority are worried about hidden costs and a confusing process. Here is some pointers. Just from experience.
Consider some unasked for advise:
1. INSPECT: Minimize hidden costs by planning a professional inspection. It is wise to get a second opinion. This may uncover hidden costs while you are creating a budget.
2. CONSULT a professional Foreclosure Agent: Many will be glad to coach you through; we personally offer free consultations.; get details: Market in this area, Time on Market at certain price, Best offer to consider, Rental Market, Loan requirements…Reach us at 770-233-1588
3. CONSIDER: An exit strategy is imperative, also consider all Short Sales as a low priority: These are time consuming and often end up with no contract.
4. COMPARE other listed property for sale that is available, and this will help you ascertain whether you should rent it or Flip it. We can do this free.
5. CORPORATE: Partnerships could be a good thing, but be careful, make sure load is balanced, and everything is in writing. Always!
6. COURTHOUSE: Pay an attorney to perform Title Search Before going. Know what you are buying.
Foreclosed homes are a hot topic in today's market. And many are jumping onboard the band wagon. In fact, real estate investors are pooping up pretty regularly now. Smart. Traffic at www.foreclosureswow.com has increased dramatically.
But, that doesn't mean these investors are wise or know what they are doing in this process. Some concerns are necessary, and pertinent. The vast majority are worried about hidden costs and a confusing process. Here is some pointers. Just from experience.
Consider some unasked for advise:
1. INSPECT: Minimize hidden costs by planning a professional inspection. It is wise to get a second opinion. This may uncover hidden costs while you are creating a budget.
2. CONSULT a professional Foreclosure Agent: Many will be glad to coach you through; we personally offer free consultations.; get details: Market in this area, Time on Market at certain price, Best offer to consider, Rental Market, Loan requirements…Reach us at 770-233-1588
3. CONSIDER: An exit strategy is imperative, also consider all Short Sales as a low priority: These are time consuming and often end up with no contract.
4. COMPARE other listed property for sale that is available, and this will help you ascertain whether you should rent it or Flip it. We can do this free.
5. CORPORATE: Partnerships could be a good thing, but be careful, make sure load is balanced, and everything is in writing. Always!
6. COURTHOUSE: Pay an attorney to perform Title Search Before going. Know what you are buying.
Wednesday, November 19, 2008
http://ping.fm/uEpwf
Obama's agenda & our foreclosure market.
Obama had stated that he would funnel in aid through the banks to our homeowners by reducing the interest rate so their payment would be more affordabale, or "Buy Back" mortgages during this season of woe financially speaking. The financial aid package passed last month by congress is the perfect opportunity. But you know what I heard? I heard that they just allowed the bank to have the money. Here is 40 Billion spend it as you like, then the banks tried TWICE to send all the top executives to a 5 star resort for R&R. Congress is aggressively holding accountable the jerk in charge, but on talk radio I heard that only 20 Home owners have experienced help with their mortgage through this "bail out." Out of Millions only 20? Is Obama going to be able to help htis housing market?
Obama's agenda & our foreclosure market.
Obama had stated that he would funnel in aid through the banks to our homeowners by reducing the interest rate so their payment would be more affordabale, or "Buy Back" mortgages during this season of woe financially speaking. The financial aid package passed last month by congress is the perfect opportunity. But you know what I heard? I heard that they just allowed the bank to have the money. Here is 40 Billion spend it as you like, then the banks tried TWICE to send all the top executives to a 5 star resort for R&R. Congress is aggressively holding accountable the jerk in charge, but on talk radio I heard that only 20 Home owners have experienced help with their mortgage through this "bail out." Out of Millions only 20? Is Obama going to be able to help htis housing market?
Wednesday, November 5, 2008
Barack & The Future of Real Estate?
Barack & The Future of Real Estate?
Well thinking of this question I recall the Tootsie Pop commercial where the wise owl was asked "How many licks does it take to get to the tootsie roll in the center?" He wisely said " well lets see" and he grabbed the Tootsie Pop out of the hand of the child and took three slow slurrpy licks before he could not stand it any longer and crunching through the hard candy shell he ate the tootsie roll. "Three" he said to the boy.
The the tag line "How many licks does it take to get to the center of a tootsie roll pop? The World may never know"
Well we may never know because he is inheriting this great mess! But thanks to aggressive investors the foreclosures are disappearing. They are gobbling up this opportunity like I do Tootsie Pops.
Give me a comment or drop a line: georgiaproperty@yahoo.com
Well thinking of this question I recall the Tootsie Pop commercial where the wise owl was asked "How many licks does it take to get to the tootsie roll in the center?" He wisely said " well lets see" and he grabbed the Tootsie Pop out of the hand of the child and took three slow slurrpy licks before he could not stand it any longer and crunching through the hard candy shell he ate the tootsie roll. "Three" he said to the boy.
The the tag line "How many licks does it take to get to the center of a tootsie roll pop? The World may never know"
Well we may never know because he is inheriting this great mess! But thanks to aggressive investors the foreclosures are disappearing. They are gobbling up this opportunity like I do Tootsie Pops.
Give me a comment or drop a line: georgiaproperty@yahoo.com
High Foreclosures Means High Rent Rates
If you are an investor this is the best of times. If you are losing you home to foreclosure this is not only the worst of times but you may be faced with a double whammy with the rising rent costs.
Do the math: Look at the area you live in and find the median house rate; in our area (South of Atlanta) It is approximately $108,000. In today's market with the normal 10% required down payment (or tied to un-leveraged property) you will be looking at a payment of around $950.00 plus or minus & add for taxes and insurance. Now in this priced home there will be little cash flow for the average rent is normally 10 - 20% higher than the normal House Payment. Which of course is all relative to many variables. So will my area carry this relative house a $1100 a month rent? If not then I need to find a better priced home; which in our case at this time in our economic break down it is not only possible but investors are liquidating banks of their REO properties every where! At cents on the dollar. Why? The fiscal year is ending for most banks from October - February and they do not want them on their books. It is a write off for them. Now is the time to buy, perform minor repairs & rent them out for a return, because you will not get it in the bank.
Keep in mind these number indicate an estimated cash flow of income to mortgaged expense. Every investor needs to account for maintenance, increased property taxes, vacancy and a number of other items. My are not to indicate exact cash flow, but simply that there is available now in a short window span unprecedented opportunity for the most cash flow. There are a number of websites that can be found to give you averages and estimates.
Do the math: Look at the area you live in and find the median house rate; in our area (South of Atlanta) It is approximately $108,000. In today's market with the normal 10% required down payment (or tied to un-leveraged property) you will be looking at a payment of around $950.00 plus or minus & add for taxes and insurance. Now in this priced home there will be little cash flow for the average rent is normally 10 - 20% higher than the normal House Payment. Which of course is all relative to many variables. So will my area carry this relative house a $1100 a month rent? If not then I need to find a better priced home; which in our case at this time in our economic break down it is not only possible but investors are liquidating banks of their REO properties every where! At cents on the dollar. Why? The fiscal year is ending for most banks from October - February and they do not want them on their books. It is a write off for them. Now is the time to buy, perform minor repairs & rent them out for a return, because you will not get it in the bank.
Keep in mind these number indicate an estimated cash flow of income to mortgaged expense. Every investor needs to account for maintenance, increased property taxes, vacancy and a number of other items. My are not to indicate exact cash flow, but simply that there is available now in a short window span unprecedented opportunity for the most cash flow. There are a number of websites that can be found to give you averages and estimates.
Subscribe to:
Posts (Atom)
