Purchasing an apartment building

When purchasing an apartment building, consider the following:

1.     Make sure that the building is in a stable area.  Purchasing an apartment building in a blighted area where the price of real estate is decreasing is not prudent.  You will want to buy an apartment building in an area where the home prices are stable or appreciating.  This will cost more money, but you will be getting more out of your commercial real estate investment in this way;

2.     Do a home inspection before you even think about closing on the property.  You may have to pay for this if the seller does not offer it, but it is worth it.  You do not want to purchase property that is falling apart or needs extensive repairs.  A homes for sale bryan tx inspection is a wise idea when investing in any real estate structure, including commercial property;

3.     Get a survey and a title commitment.  The survey will show the property lines and make sure there are no other buildings encroaching on the property.  The title insurance will reflect the current owner, any liens, encumbrances, unpaid taxes and covenants or restrictions.  Covenants and restrictions are often placed on multi family property.  This can include such things as “no hanging clothes on the balcony” to “no antennas on the roof.”  If you are unfamiliar with reading a title commitment or survey, hire an attorney with experience in multi family commercial real estate bryan tx investing;

4.     Make sure you see the leases and you should even interview the tenants to see if they are happy with living in the building, if there are any problems and if they plan on staying.

5.     Figure out who is going to maintain the property.  This will include shoveling snow, salting the driveway, cutting the grass and basic repairs in the building.  You can do this yourself, if you are handy, or you can offer one of  your tenants a discount in rent by agreeing to take on this job.

These are the most important aspects when purchasing an apartment building.  Many people, when seeking to invest in commercial real estate bryan tx, prefer working with apartment buildings, particularly if they are handy and can do basic maintenance in the building.  Remember that your tenants will look to you if anything goes wrong in the building.  You will be required to make sure that your tenants have hot water and heat or else you may be in violation of  several municipal, state and federal laws.

You also have to know the lease laws when purchasing an apartment building for a commercial real estate byan tx investment.  Lease laws vary from state to state as far as the responsibilities of both tenant and landlord, but  federal laws prohibit any form of discrimination based on a variety of conditions.  You must be familiar with these laws before even thinking of leasing property or purchasing an apartment building.

If you are handy and can do basic home maintenance, and better yet - if you plan on living in the building where you can keep track of what is going on, buying an apartment building can be a good way to get started in commercial real estate bryan tx  investing.

 

 

Take it to Auction

Investment opportunities are springing up all the time.  The problem is so many novice investors do not recognize them.  These remax properties college station  are prime candidates for financial gain.  Investing in bankruptcies is nothing to fear. You just have to know what to do when you come across a deal.  The best thing to do is take it to auction.

The seller who is facing bankruptcy knows they are going to lose their house.  The bank is frustrated because they do not want a non-producing loan on the books.  Everyone is losing.  As an investor you can make everyone happy and still come out ahead of the deal.  It will take some work to put a deal like this together, but it can be done.

The seller does not want to have a foreclosure on the credit file.  This means they are willing to look at any and all offers.  The bank does not want to be dragged through the legal system with foreclosures, evictions, and sheriff sales. They will also be willing to make a deal.  This the the prime time for you to enter into the equation.  There are certain steps you must take to make sure it is a win win situation.

The first thing you must do is speak with the seller to determine what is owed on the property.  You may be surprised to find there is quite a bit of equity in the homes for sale college station.  This is a good thing.  Walk away if you can not make at least $5,000 on the deal. You may decide to pocket less money, and that is fine.  The $5,000 is a general suggestion.  You could potentially make more depending on the market.

 You want to know about any liens, back taxes, second mortgages, or other moneys due on the property at the time of sale. This will let you know what the bottom line is going to be for the property.  It is extremely important to know this before speaking to the lender.  For this example we will use a property valued at $100,000.  The seller owes $55,000 on the property.  The amount owed on the taxes is $1,200. We are going to keep this simple, so there are no liens on the property and no second mortgages.

By speaking to the homeowner, you can explain that by allowing you to deal with the lender the foreclosure can be avoided.  You may also be able to offer them a certain amount of the sale to solidify the deal.  Sometimes this is necessary and sometimes it is not an issue.  Talking to the seller will let you know what must be done.

The next step would be to speak with the lender and explain you want to put the house on the market at a public auction.  The buyer would be highest qualified bidder.  There will have to be a set time frame for the auction to take place.  This is generally thirty days.  You would offer the lender $50,000 for the property.  Although this is a low bid for the property, the lender is more apt to accept it to keep the property off the foreclosure list and out of the legal system.  Once you have managed to negotiate with the lender for a fair price, it is time to take the property to auction. 

You need to make it very clear to the seller the house will be shown to potential buyers until the day of the auction.  This will allow you to gather a list of names to make sure they are notified of the selling deadline.  You can also do any necessary repairs which may need done.  At worst, it gives you time to add some curb appeal to the property.  The day of the auction the opening bid should start at the price you negotiated with the lender.  The rest is pure profit.  In this case, you have the potential to realize as much as $50,000.  This is one of many ways of investing in bankruptcies. 

 Lisa Jones will help you get the most of your real estate college station investments. She has access to worth investing remax properties college station and she will help you find the best fit for your resources. 

 

Homes For Sale Bryan College Station

Learn to Invest from the Pros

There are many real estate bryan tx  programs on the market for you to learn from when it comes to investing in real estate.  The problem is which ones to buy and which ones to let go.  You can learn to invest from the pros if you know what to look for in the programs.

The first thing you need to do is determine what marketing niche you are going to specialize in when it comes to investing in real estate bryan tx .  You may want to invest in bankruptcies.  You might choose to flip properties.  Another avenue for investment is buying rental properties.  Either one you choose can yield a good profit.  The real estate pros who are successful have chosen a marketing niche in which they specialize.  You can learn to invest from the pros who have specialized in your market.

Find someone who is offering training programs in your area.  These are the people who have made money investing in the local market in which you are planning to invest.  This is the person you want to listen to.  It will do no good to try techniques used by someone in Colorado when you live in Florida.  You want to learn from someone who knows the laws governing your area. You want to find out what you can about the real estate investment market for your part of the country.  Finding a local investor who has made it work will allow you to learn what you need to in order for your business to become successful.

You will also want to invest your money into a program that has a complete training package.  Someone who is selling you a book and a few tapes is making their money on the program you are buying.  Many of these program authors have not even made a real estate transaction other than to buy their own home.  You want to learn to invest from the pros who have been there and done that.  You want to find out what worked for them and what mistakes they made.  A good investor who is willing to share his or her knowledge will tell you the pitfalls. They are willing to share the mistakes they made so  you can avoid them.  This is the person you want to learn from when it comes time to invest in real estate.

Many of the top investors who have made their living buying and selling real estate bryan tx also will share other success stories with you.  They are willing to let you get to know others who have been taught to use the same system.  The true real estate investor is not afraid to hand out references.  They know their system works because they use it every day to make good money.  You can learn to invest in real estate from the pros who are willing to provide you with a list of names.  Speak with these other trainees.  Find out what they like about the program and what they do not.  Let them tell you of the experiences they have had when it comes to investing in real estate.

 The one true way to know if the real estate program is right for you is if there is a support line or a team willing to walk you through the system. The last thing you want is for someone to sell you a bunch of books and tapes and just walk away.  You want to learn to invest in real estate from the pros who are willing to stand behind you.  There are actually a few who will make deals with you.  These are legitimate deals where the two of you go together to examine the property and go together for the financing.  This type of professional investor is the one who wants to see you succeed. This is the one real estate bryan tx  professional investor who will teach you what you need to know in order to become successful on your own.  This is the investor whose package you should buy to learn how to invest in real estate bryan tx from the pros.

Among the many remax realtors bryan tx that you can rely on is Lisa Jones, she has a well versed portfolio in real estate investments in Bryan, Texas.

 

 

Know Your Market When Investing in Bankruptcies

The first thing you must do as an investor who is investing in bankruptcies is to know your market.  You must be able to recognize what is a good investment and what is a bad one.  You must know what areas are on the rise and which ones are declining.  You have to know what is in demand. You do not want to put money somewhere it will just vanish.

As a real estate investor you must determine what kind of marketing niche you are going to be a part of.  Investing in bankruptcies is easy for anyone to do. The hard part is making money.  This can only be done with a good marketing plan.  Every business has one and your business is investing in bankruptcies so you must create a good marketing plan.

You must understand your market when investing in bankruptcies.  You first will want to decide whether to become a landlord or just flip the properties you buy.  There is a big difference as to what a good investment is between these two strategies.  Some properties which might be great for one could spell disaster for the other one.

 The landlord can look at just about any property on the market.  The key to becoming successful as a landlord when investing in bankruptcies is making sure you do not buy more than you can afford.  If you must take out a mortgage on the property you take the risk of the property being vacant and you having to come up with the payment out of your own pocket.  You also assume the risk of the tenants not paying, or worse yet, damaging the property.  Repairs can become costly when dealing with a rental property.  Proper screening of your tenants can prevent most of the risks.  You still need to make sure you are buying at below market value when you do buy a rental property.  Investing in bankruptcies can almost certainly guarantee this happening.

You may be the type of person who just wants to buy the properties, fix them up, and sell them.  You will need to know what is in demand.  You do not want to buy a large family style home in a senior citizens retirement district.  You would never be able to sell it for what it is worth because the people who want to live there do not want large homes.  Likewise you can not afford the mistake of buying a two bedroom bungalow surrounded by spacious three and four bedroom homes.  You must zero in on what the market is asking for.  When you determine this then you are on your way to knowing what to look for when investing in bankruptcies.

Pricing is another issue.  If you are investing in bankruptcies, the lower the price is usually better.  However you must also take into consideration what the market is averaging.  You might be able to find a great deal on a beautiful home for 60% less than the average selling price of comparable homes in the area.  Before jumping into the deal, determine how many days each of the homes which sold was on the market.  If it was more than 120 days then you may be stuck making payments you do not want to be liable for.  Just because the house sold for such and such a price does not mean the property was in great demand.  The law of supply and demand plays an important role when investing in bankruptcies. 

When you realize how the market is growing or depreciating then you can better understand how to invest.  Certain areas are constantly growing because of the job market.  A good, solid job market always generates better real estate opportunities.  You just have to know your market when investing in bankruptcies.

 

 

Remax properties bryan tx are among the finest list of properties worth investing. Lisa Jones can help you factor your decision, she is quite an expert in real estate investments as she is a high calibre remax realtor bryan tx.

How to Profit by Investing in Bankruptcies

There are many seasoned investors who will not look twice at bankruptcies because they feel the time and trouble it takes to put together the deal is not worth the profit.  This is a big mistake. There is money to be made by investing in bankruptcies.  You just need to understand it can make some very miserable people happy when you show them there is a solution.

By the time someone is ready to file bankruptcy, they have already come to the conclusion it is only a matter of time before they loose their home.  This is a very stressful situation.  The investor who is willing to tackle the problems of a property in bankruptcy can profit greatly. 

The lender is not wanting to go through the legalities of foreclosure.  The homeowner does not want the foreclosure on their credit file.  This is where you can step in and offer a solution.  One of the easiest ways to do this is bring the property to auction. This offers a solution to both the lender and the homeowner.  Not to mention you can make a profit as well.

The seller must first agree to the terms you set forth, so it is advisable to speak with them first. You will want to know as much about the property as you can find out.  You need to know what is owed, if there are any second mortgages or liens, and if the property taxes are current.  In many cases you will find the taxes are also behind.  You must stress to the seller the only way this system will work is with complete disclosure.  Any hidden costs can make the deal go bad in a minute.

The second thing you must do is make sure there is enough equity in the home to make it worth your trouble.  You do not want to try this technique with a property which has only a few thousand dollars equity.  You need a property which has at least $20,000 equity.  The more familiar you are with the way the deals work the more you can adjust this figure.

You will also need to speak to the lender to determine if they are willing to accept the offer you are making.  Many times you will find if the offer is legitimate, the lender will agree to the deal.  The next step is simple.  Sign and deliver.

Once all the paperwork is signed by the homeowner and the bank, with each party knowing what is happening, you will need to bring the property to auction.  The seller benefits because the deal offers them two things.  The burden of a foreclosure is lifted.  They also have some cash to be able to move into new home.  The lender is happy because they no longer have a non-performing loan on the books and have gotten the price they want out of the property.  You are happy because you have pocketed the difference.  This is one of many ways on how to profit by investing in bankruptcies.

Lisa Jones is a well trusted remax realtor college station,you can call on her to discuss with you in full the best possible options when considering investment in real estate college station.

 

Finding the Right Property

We all want to make money.  The problem is most of us think the only way to do it is with a 9 to 5 job.  This is not the case.  Investing in bankruptcies can yield a very profitable income with the right property.  It is finding the right property which can become the issue.  Not if you know where to look.

There are many homes right now in remax properties college station  that have become repossessed or are in the process of being foreclosed upon.  These properties are the ones you need to look at for your investment portfolio.  You can decide to rent them out or flip them.  The nice thing about these distressed properties is you can buy them either with little or no money down and at a fraction of what they are worth.

The banks are not in the real estate business.  They are in the business of lending money and earning from the interest.  When there are non-performing loans on the books it does not look well  for the financial institution.  It appears they have problems with their judgment and investors will not want to invest in the lender's portfolio.  This, in turn, costs the lender money.  By clearing the bad loans off the books, it puts the lender in better standing with their investors.  This is where you can clean up.

The lenders will look at any offer that is made on a property.  They will also say no to ones which are just too low for the value of the home.  You need to do your homework.  The first thing to do is find out how long a property has been in foreclosure or vacant.  This will give you a good indication as to how much the lender will negotiate when it comes to the property.  A new listing will be hard to obtain at a low bid. However, should you find one that has been on the market for a year or more, you can usually set your own price, within reason.

 There are many remax properties college station listed on the government repossession lists.  This is one of the best places to start looking for the right property.  You can find some of these homes with prices of less than $10,000.  The key to negotiating a deal with the HUD office is to be patient.  You can offer as little as $500 for a property which has been listed as a foreclosure.  Many of the properties for sale under $10,000 will actually sell for far less.  The nice thing is most of these homes are valued at over $30,000.

The best way to make money on the properties is to resell the property either as a rent to own or land contract.  Finding the right property for this is not very hard.  It is finding the right buyer you could have problems with.  There are so many people who have poor credit or have not been on the job long enough to establish a good credit rating.  These are the ones you will most likely be dealing with if you choose to lease option or land contract the house.  Finding the right property for these people is simply a matter of asking.

You can form a buyer's list.  This is a list of people who are looking for a specific property to buy.  You will know what they are looking for and have it all listed.  This will ensure when you come across the right property you know who to contact to sell the home to.  It is a win win situation.  You can sometimes create a deal with no money out of pocket when you have a buyers list.  It is a simple matter of negotiating.

You would set up a deal with the seller.  The buyer would be able to tour the home.  If the buyer is willing to purchase, he or she would come up with the money to purchase the property.  You would be acting as the middle man.  For a percentage of the sale, or an agreed upon price, the deal would be sealed.  All it takes is finding the right property.

 

To guide you in finding the right property, a local remax realtor bryan tx, would be of greaat assist. You can set up an appointment or consultation with Lisa Jones should you find the desire to invest in real estate college station.

 

 

A Bankruptcy is a Bankruptcy

Many people run into hardships throughout their lives.  This is not something that is reserved for the little guy.  In this day and age there are many people who have had problems paying their bills for one reason or another.  The rich are not above the law when it comes to bankruptcies.

There are people who feel a half million dollar home is just not something they can deal with when it comes to investing in bankruptcies.  This is not true.  The same rules apply whether the house is worth $50,000 or $500,000.  Someone had a problem paying their bill and the finance company had to foreclosure on the property.  You may not know the reason and it really does not matter that there was a death or a lawsuit or even a divorce.  The important thing is the property is on the market.  You can buy it for far less than the market value. 

Do not be afraid to approach the finance company or seller when it comes to properties which are high dollar.  If you feel you can make it work then go for the deal.  You would be surprised how many of these homes sit vacant for so long because no one believes they have the were with all to afford taking on the financial risk.  It can be done.  There are really no differences in these types of properties than the ones in the neighborhoods you have been dealing in so far. 

If you feel you may not be capable of creating a lucrative deal with an investment of this magnitude then pull in a partner.  Find someone who has the understanding to handle a deal this big.  This way it is not just you who has put up the money.  There are investors who love these kinds of bankruptcies.  They thrive on this type of property.  Find one and you can form a join venture.  It becomes a win win situation. 

Should you be lucky enough to find a property which has a large price on it, do not just shrug and say it would be nice.  Make it happen.  Determine if the property has marketing potential.  Find out how long other properties have been on the market.  Check the past selling history of the area.  If you know it will work then make it happen just like any other real estate deal.  Do not invest in the property because it is for sale.  You want to determine if it is a good investment.  You will have to do the same homework on a big deal as well as the little ones.  

You may find the property was overpriced when it sold the first time.  If this is the case you do not want to look at it as an investment.  However, if you can get the property for two thirds of the market value or less, and you know it will sell quickly, then do not pass it up.  You could be bypassing the investment you have always wanted to come across.  The key to success when it comes to properties which are selling for large amounts of money is to have a good real estate agent working with you.  This way you can turn the property into what it was supposed to be, a good investment.  Do not settle for just the small properties.  The large ones can be had as well. 

 

A reliable remax realtor college station can help you determine the potential of a good buy, for question and inquiries contact Lisa Jones.