Many people would not believe that rehabbing houses is a high-paying job. They think that there is nothing rewarding with fixing dilapidated homes, nothing glamorous. All they see is a rehabber doing odd jobs to a home in disrepair to sell that property. But heres the truth: rehabbing houses indeed is an excellent source of income, especially today, while the market is still recovering from the recession.Also known as fix and flip, this business...more
If you believe that there is no money to be made in the real estate market, then you probably havent heard of the business of wholesaling houses.In the language of real estate investors, the term wholesaling basically refer to the process of placing a property under contract and then assigning or selling that contract to an end buyer. Being a wholesaler is an easy and lucrative way to make a living amid these troubled times. In addition, it can...more
We tend to get over excited on new things. We want to drive a new sedan for a whole day immediately after we bought it; use a personal computer for hours after we get out of the box; always look at the time in a new wristwatch. The same thing happens when we are rehabbing a home for the first time.When too much excitement sets in, we tend to think in haste and lose focus. That is why it is important that we try concentrate, have a plan, and follow this plan. To better help you with your first rehab, here are a few tips you might find useful.Hire a professional home inspector. Unless you are a licensed home inspector, its better to hire a professional for your first project. A home inspector is a preventive measure against unexpected repairs and expenses. He will be able to give you a clearer view of the house and its state and give you opinion on whether it will take a fortune to rehab that property. He can save you from rehabbing a home that will require you to make major repairs that are actually not that obvious to the common eye. An example of these is the movement of a houses foundation. Whats a few hundred dollars for the inspector if thats what it takes to avoid buying a bad...more
Today, many individuals are seeking to tap into the money-making opportunities being provided by the real estate business. Investing in real estate is great way to rake in huge profits, no matter what the current economic condition is. And one of the best methods to invest in real estate is by rehabbing a house.In the real estate business, the term...more
We Americans just love shaking hands with people we are introduced with. While this is not practiced in other cultures, a handshake is a sign of peace, welcoming, and getting to know for Uncle Sam. And if theres one thing you should shake hands with today, thats wholesaling houses.You must get to know this form of real estate investing today, while...more
For years, investors have been using private money to rehab houses. They find it better than conventional loans offered by banks, credit unions, and other traditional lenders. Rehabbers have a sundry of reasons for tapping this kind of financing and here are some of them.The first is it lets them close deals with zero personal money. If you sought credit from traditional lenders, they will give you enough money to buy a property. In the case of rehabbers, this is not enough because apart from purchasing a cheap property, they also need money to fix and market it. They also need extra cash for closing and other unexpected expenses. While they have lower interest rates, traditional loans may not be enough for their needs.That is why they turn to private money despite this kind of financing having higher interest rates. When you borrow money from private money lenders, you will usually get all the cash you need to buy a property, rehab it, and then market it. This is how it happens.Private money lenders will give you money based on the amount of the collateral. In the case of rehabbers, the fixer upper home is used as collateral. Lenders determine the price of the fixer upper home in...more
Are you struggling to sell your house or worried about getting a low price? Are you afraid of dealing with tenants if you put your house on rent to-own basis? Then try using a rent-to-own or lease-to-own marketing strategy.The banks are also making...more
If I had to sell my house, I will certainly opt for rent to own deals in the market. Here are some of the reasons rent-to-own can be beneficial for you as a home seller:1. Higher Purchase Price Rent to own sales typically command a price premium...more
Its been quite some time since they were first introduced by the government to the common man but the controversy just refuses to die down. While the government has been propagating the Home Information Pack (HIP) as being extremely beneficial to the...more
Buying or selling a house is often a problem for people all over the world. Getting the right price for a house which you wish to sell is always a matter of concern. Similarly, getting one at affordable rate is also not quite easy. If you wish to buy...more
If you have missed a payment or two on your mortgage and fear your home will become one of the many Atlanta Foreclosed Homes it is important that you work with the bank to save it. You can save it and there are many reasons why.Banks do not want to...more
Bronx foreclosed homes are a good way to move to New York City while spending less. The Bronx is a vibrant and densely populated area, a borough of the city. It attracts many artists and cultural icons and is considered a desirable place to live. As...more