| |
| |
|
Nationalrealtyresource.com
|
| Home | Find a topic | Links | Guest Book |
| Welcome |
|
|
|
Dont Buy Ugly Houses!
Ugly houses can be great investments, but we don't buy them. We understand that there are lots of valid ways to make money investing in real estate. Buying and rehabbing ugly houses is certainly a good one, but we've chosen a different strategy. Our strategy is to buy good homes that are ready, or nearly ready, to move in. It has worked well and generated consistent profit deal after deal. Can't imagine getting a good deal on an attractive house? Believe it or not, there are bargains to be found because nice houses do go into foreclosure, people do move, and people still need to sell fast for a lot of different reasons. Sure, not every house we buy is beautiful and has an immaculate lawn. But you would be surprised at how many "ready to sell" houses are available at below market prices. Like anything else, it takes work and know-how to find good houses. Here are three good reasons to look for clean, attractive houses. 1. Rehab and marketing time is greatly minimized. In many cases, you can show the house even before you buy it. In fact, if a house is clean and ready to show, we insist that we be able to show it during the time between signing the contract and closing on the house. We are closing on a house in Chattanooga, TN this month that we sold before we even bought it. How did we do that? The seller was motivated because they had already purchased another house. We actually put a contract on it with the contingency that we would have it sold before we bought it! Our system of selling almost all of our houses on lease-to-purchase contracts keeps our average marketing time down to a week or two, so the contract with contingency was still very attractive to the seller. The house was ready to sell. We only spent about $500 to fix it up. We sold it through a lease-to-purchase contract before we bought it, and our profit is $14,400 on this deal. 2. There are few rehab surprises. In our experience, no matter how carefully you examine a house before you buy it, there are always unexpected expenses in the rehab phase. It's just hard to foresee some things until you begin remodeling. Of course, we prefer to keep these surprises minimized. Nice houses with little or no rehab are great for minimizing the surprise. Incidentally, this is a good reason to have a home professionally inspected before you buy it. It's also a good reason to budget some contingency funds for houses that do require remodeling. 3. Free up your time. You may enjoy the rehab and remodeling, but the path to true wealth in real estate is in finding and making the deals. If you are buying nice clean houses, then your time is spent in the deal making, not in managing the remodel projects. Because we've made the choice to buy attractive homes, our profit margins may not be as extraordinary as some rehab deals might appear. We don't have any stories of buying a house for $35,000, investing $35,000 in rehab and then selling for $100,000+. Instead, our path to wealth has been through buying nice homes from motivated sellers at below market prices. We sell these houses through lease-to-purchase, or "rent-to-own" contracts at market or slightly above market prices. Our profit is generally $15,000 to $20,000 per house and our marketing time is usually less than two weeks. You can do the math and see that buying nice houses can be very profitable for an investor. In our case, we prefer to handle more deals with these consistent profit margins, than work through the added stress of ugly houses. Blake Watson is an active real estate investor,author and coach with Lucky 7 Seminars, a real estate investment training company headquartered in Chattanooga, TN. email: blake@lucky7seminars.com
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
Expense List for Buying a Home There are many expenses that come with buying a home. The following list is a good example of what to expect:Down payment - A minimum of 20% of the home's purchase price is usually required for the best loan terms and to avoid paying private mortgage insurance (see below), but it's entirely possible to buy a house with a smaller down payment. Kings Bay Georgia Real Estate - An Amusing Tale About a Real Estate Agent This story is true and not meant to hurt anyone, but the more that I think about what happened, the more it makes me laugh. I hope that you not only get a chuckle from it as I did, but take your time and look for a professional real estate agent. Florida Investment Real Estate and What Are Considerations Before Buying Investment Real Estate, First Things FirstConsidering investing in property? What are some pertinent things to consider before taking this leap? Of all the investment possibilities, investment in land generally produces the most positive results. It is vital, however, to carefully investigate the pros and cons, benefits and deficits of real estate investment. The Art & Science of Property Valuation -- Automated Valuation Models It is no secret that sellers want to sell high and buyers want to buy low. But they often arrive at the negotiating table with very different ideas on price. Home Selling: Making It Easy On Yourself! It's a dream for many to buy and take ownership of a home. It's something one aspires for in their lifetime. The Real Estate Market In Spain: Making Profits Out Of Sand The Real estate market in Spain keeps gaining momentum and is of a vital interest among overseas investors. Property prices in the country continue growing at rapid pace due to a sustainable development in many areas of the mainland and the islands. Walnut Creek Real Estate Looking to relocate to a Californian suburb with a low crime rate, beautiful luxury homes and the convenience of being located just minutes from Oakland and San Francisco? Look no further than Walnut Creek. This city of just over 65,000 people is staying relatively stable in population, but new luxury homes are being constructed in this northern suburb all the time, and there are countless options. 6 REASONS for Investing in Florida Real Estate Investment Property NOW I invite you to take the next few minutes to learn the truth about the real estate market, how it compares to other methods of building assets and why it is such a lucrative form of investing. Many potential investors will say, 'I need to get into the Florida Investment Property market', especially taking into account current stock market fluctuations and the HOT market for investment properties, but simply don't know the facts about Orlando property investing and how to use sale and leaseback method of property management. Real Estate Investors - Red Alert How's the real estate marketing doing? Is the huge jump in home prices that is evident in some areas symptoms of a value bubble? Good questions, yes?Two things to keep in mind when surveying the market:1. All real estate is local, 2. We Buy Houses Scams - How to Spot Them and How to Avoid Them There are many reasons why a home owner would want to sell a house fast. Job change, relocation, debt problems, divorce and inheritance are just a few. How to Own a Dream Home in Spain Every year hundreds of thousands of foreign visitors travel to Spain to delight in the fantastic weather, stunning natural landscapes, excellent entertainment options and superb Mediterranean beaches. Many of these people dream of one day owning their own property in Spain, in fact Spain is now one of the most desirable second home and retirement destinations in the world. What Is Home Staging And How Does It Help To Sell My House Home staging is the concept of preparing a house for sale. This can involve everything from removing clutter, re-arranging furniture and in some cases re-decoration, ensuring that the house creates a great first impression and helps buyer's to feel that they could really live there. Take A Shotgun Approach An effective real estate advertising strategy entails a 'shotgun' approach. A shotgun approach includes online internet ads, regular print ads in major real estate publications (AJC) of the property's location, as well as popular local area publications (Creative Loafing) and full use of real estate signs. The Value of Foreclosed Property The discount on a foreclosed property is not as great if the state allows deficiency judgments by lenders against borrowers. In contrast, the discount is larger if the property is being sold in a state that requires foreclosures to proceed through the judicial system. Buying a Home - Dealing With Lender Letters Most people who set out to buy a home, be it house, townhouse, condo, apartment, or mansion on a hill, know they need to have a lender letter in hand saying they are qualified for a loan. What most "civilians" (people not in the real estate business) don't realize is how much the value of a lender letter varies. Part 1: FAQ's From Media Interviews With Real Estate Author Do you feel there is going to be a real estate bubble?Nash: No. Are some coastal and resort markets over-heated, yes. Choosing a Residential Lot Finding a lotPlanning for your new home is a very involved process. You might want to get right down to selecting a set of house plans but don't get into a hurry. Negotiating A Short Sale - The High Road to Huge Foreclosure Profits Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. Real Estate Marketing, Do You Use Direct Mail? Prospecting for leads is by far the most difficult part of being a Realtor or small business professional. In fact, lead development is by far the most expensive and time consuming aspect of your job. How to Decrease the Value of Your Own House Owning a house is part of the American Dream. Depending on where you live in the US - home ownership can be around 70%.
|
| |
| |
|
Home | Guest Book |Site Map | Recommended Resources | Search Powered By: TJTMEDIA |
| © 2006 |
