The grass always seems greener on the other side of the fence, or other side of the nation. But the best real estate values may be in your own neighborhood. Search for that real estate value in an area close to you. If you are buying as an investment, there is no substitute for YOU, even if you choose to have a management company handle the property, you need to monitor what is happening with the property.

Look for properties that are listed with a realtor, or FSBO, that have not sold. You will be surprised. Many times there is very little needed to make the property more attractive. In a buyer’s market, people are very picky, and will not buy a property with the wrong color of paint, or other minor imperfections. When the property has sat on the market, many times you can make an offer of a much lower price, and it will be accepted.

Another method is to choose an area just outside of a growing area. Don’t choose an area with already inflated prices; choose the area North, South, East, or West of that area in the direction of the growth. Just because an area is tripling in price today in a very short time, does not mean it will tomorrow. Those are the areas that fall quickly also. Or the proverbial “bubble burst”. Areas that have growth, but less dramatic increase in equity are the true best investments over time.

Here is an example of a good investment. A property that was listed with a realtor had been sitting unsold. It was in a modest neighborhood. The home was ugly inside. The paneling from the 70’s had been painted, but with only one coat of paint. The walls were streaked, and it gave the appearance of dirt. The kitchen cabinets had been painted, but were dirty, and some of the doors were falling off. The appliances were not new, but acceptable after cleaning. There was a small leak under the sink, but other than that, the plumbing was good, the roofing was good, and the heating and air was good. Also, it had just been announced there was going to be a new high school built that would be attended by students in the neighborhood. I purchased the home for $74,000. Homes in the neighborhood in good condition were selling in the range of $90,000 to $100,000. To improve the value of the home, I cleaned, repainted with a neutral color, and repaired the kitchen cabinets, painted them, an added detailing with wood trim. One sink was replaced with a pedestal sink in the bathroom, and new faucets, and light switch plates throughout. Also, the leak under the sink was easily fixed. I did not have the home appraised until a year later, but it appraised for $105,000. I held it as a rental for only two years. After the tenants moved out, I replaced carpeting, and put ceramic tile in the kitchen, and baths, and replaced some lighting fixtures. Then I sold it for $118,000. A gross profit of $44,000 was realized.

There are other ways to purchase property, that work best with properties that a realtor commission is not owed. These methods are purchasing the property Subject To, or by Agreement For Deed, or by purchasing the property by lease purchase, or a Sandwich Lease. With these methods, you control the property, but do not own. It can be a “win, win” situation for both the investor, and the seller

The most critical component of custom building is obtaining the right budgets – Yes Plural - “for you.” I can not emphasize this point enough. Every family has different needs and objectives. You are allocating resources (monetary, emotional, time, etc.) to your custom home and you expect to maximize your return on investment.

However, a custom home’s return on investment is not the same as a stock holder’s return on investment. Your return on your home’s investment is personal. Yes, it should have financial implications, but it “MUST” reflect your family’s lifestyle, values and personal sense of style. Your home should be an oasis. A place for entertaining, retreat, and solitude.

Therefore, you should require two budgets. One budget that outlines what you expect to pay for your home. No More, No Less. This is the financial budget. The second budget is a personal budget. This budget defines how your home will reflect your lifestyle, values and personal sense of style.

The personal budget outlines your requirements for items such as views; The style of architecture you want; How you entertain; What type of privacy your require; Do you work from home; Is there a need for a play area; How many Bedrooms do you need; What floor would you like the Master bedroom on; Etc.

It is “critical” that you are honest with the architect and your home builder regarding what you expect to pay and your requirements for your new home. No More, No Less. Without open, honest communication, the architect and your builder can not do the job they are hired to do – Design & Build Your “Custom” Home.

You should have both your financial and personal budgets prior to meeting with an architect. Your builder and the architect will work with your budgets to maximize your homes return on investment.

Have a quick look at your deck, how does it look? Does it look like something out of a home and garden magazine or something out of a horror movie?One of the best selling points of a home in Florida is the exterior. With great weather year-round, people spend more time outside in Florida than almost any other state. Decks and patios are one of the favorite locations for gatherings and relaxation, and as such they are great selling points and can make or break a sale if they are properly looked after or neglected.

If your deck looks perfect then you already know the power and attraction that a great deck holds, on the other hand if it looks like the residence of a herd of zombies then you might want to do something about it. Let’s start with the deck’s surface. No matter what it is made out of, a pressure washer is your best friend right now. Blast those years of accumulated moss, grime and leaves to reveal the actual deck. Now take a good cleaning solution (make sure to get one that is appropriate for the deck surface) and get to work on making that deck shine! Don’t forget to get the right sealant for the deck. After you are finished with the cleaning, apply the sealant to preserve the work you have just done.

Now would be the perfect time for some new patio furniture. With the effort you have put into cleaning the area, treat yourself to some stylish seating! Another great addition to a deck is a trellace. It might take some time to get plants to string along the trellace but wisterias grow like fire and look great on a deck. Add little accessories like planter boxes or statues to create the perfect atmosphere for your new area. It will add great value to your home when it goes on the market.

About the Author

Charlie Pigeon is a real estate agent specializing in Fort Myers Condos . Fort Myers features some of the best waterfront and standard condominiums in the Southwest Florida Real Estate area. Let Charlie Pigeon help you find the condo of your dreams.

Everyone has heard a story or read about someone who bought a property without paying a single dime as a down payment. But how does this work?

There are several “classic” methods commonly used to purchase real estate with no money down. There are an infinite variety of situations in a real estate transaction that could lead to a deal with no down payment. But for the sake of reality, I will focus on those that are most commonly seen in the current market.

1. Seller second - The buyer obtains a new first mortgage for most but not all of the total purchase price. The seller finances the rest.

Purchase price: $100,000 Buyers loan: $90,000 (90% LTV) (new first mortgage) Sellers finances $10,000 (in the form of a new second mortgage) The buyer has borrowed 100% of the purchase price. Thus, you have100% financing, and no down payment was paid by buyer.

This is not a difficult strategy to employ if the seller has enough equity, is willing to hold a second, and the first mortgage lender approves.

One thing that is not mentioned in most articles about this strategy is the requirement for lender approval. The lender who is making the 90% loan will have to agree to allow the seller to take back a second mortgage. In cases where the buyer has better credit, this is usually OK with the lender. But if the buyer has a lower credit score, the lender may not approve of this. If your credit score is on the lower side, but you have good documented income, you may still qualify.

Talk to your lender ahead of time and find out if creative financing options such as a seller second would be allowed. Make sure you have a lender who is used to working on investment property loans. Some mortgage companies only have programs for owner occupants. You need to go to a lender who specializes in loans for investors.

2. Another common way to obtain a no down payment loan is to utilize one of the many low or no down payment programs that exist. Many of these are intended for owner occupants, but some are available for investors. Again, it is important to talk to the right lender.

If you have an investment property that you want to sell, consider taking back a second mortgage for 5-10%. This is not a huge amount, and it can help you sell your property faster.

When it comes to finding a seller who will help you create a no money down deal, consider buying from an investor who is willing to be flexible. Some investors are willing to do creative financing simply because they understand that it helps them sell houses. It never hurts to make an offer that includes a seller second. You never know until you ask.

There are some points to remember when purchasing investment property with no money down. A key point is the comparison of monthly payments to expected rental income. When you are financing 100% of the purchase price, your payments will be higher. If you have a second mortgage payment to add to a first mortgage, your payment may be even higher. Be sure your rental income will cover the entire monthly payment.

3. More common among professional investors is buying wholesale properties, using hard money to purchase and rehab.

When the rehab is completed, you want to get a new mortgage that pays off the hard money loan. Since this is a refinance, you can take cash out of the property. You may have to bring some money to closing on the hard money loan, but you get it all back when you refinance, so you end up with no money out of pocket. This becomes not only a “no down payment” deal, but also a “cash back at closing” deal.

It works like this:

Purchase price $100,000 Repairs $15,000 Hard money loan $115,000

Purchase and repair, then get new loan to pay off hard money. New loan is based on 90% of After Repair Value. For our example, the ARV is $150,000

90% of $150,000 is $135,000. New loan for $135,000. Subtract hard money loan pay off of $115,000 leaves $20,000. You keep the extra $20,000 in cash, tax free since it is a loan, rent your house out and let the tenant pay the loan back. Your gross profit is $20,000 cash and $15,000 equity. Total gross profit $35,000. Not too bad for a couple months work.

Down payment by definition means specifically money that is used to “pay down” the total purchase price. This does not include money for closing costs, points, interest, and other items such as insurance. But if you are buying wholesale properties, fixing them and refinancing to pull cash out, you should be able to pay all your expenses and have a nice profit at the end of the day. (Just keep some of that cash in reserve for emergencies)

If you do 3 houses per year, and you only net $25,000 total, after paying all expenses on each of the 3 houses, you are still netting $75,000 cash and equity in about 6 to 8 months. Plus, if you are renting these properties, you are also creating additional streams of income through monthly cash flow as well as accumulating equity in each property.

This is a solid strategy to achieve a retirement nest egg and ongoing income for life in less than 10 years. If you look around at the real estate investors who are wealthy, the vast majority own rental property, be it residential or commercial.

They understand the concept of buying at a discount, then holding their properties for years. They get to the point where their holdings are worth double or triple the price paid. This is free money that you can earn simply by buying and holding long term. No, this is not as easy as it sounds, but nothing worth doing is ever easy. If it were, everyone would be wealthy.

There are wholesaling companies in every major city that specialize in selling fixer upper properties that fit with strategy number 3 in this article. Look for their signs on the side of the road, their ads in the paper, or ads in local thrifty nickel type shopping papers.

Most deals do require some out of pocket cash, even if it is only temporary, until you refinance.

True no down payment opportunities are pretty rare these days, with interest rates at historic lows. If interest rates go back up, (and they will) we will see more creative financing and more no down payment opportunities in the future.

About the Author

This is an example of the kind of quality training and information you receive when you become a member of The Real Estate Arena. When you join TREA you’ll have access to live and recorded investor training, networking and investing tools, all for one low monthly membership fee. Get more information at http://www.therealestatearena.com/ad.aspx?i=rtcl

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Over recent years the substantial growth in UK property prices has outstripped the income generated by people in their mid/late twenties. For single people, finding a deposit is certainly difficult enough, and with the need for a substantial mortgage, repayments are not within their income realm.

Will this phenomenon continue? Forecasters are concluding that although there may well be a period of stagnation, or even a reduction over the next 10 years, the UK property market will continue to stretch away from earned income. As there is a long standing tradition for UK youngsters to fly the family nest much earlier than in other European countries, the UK alternative is for youngsters to rent a property.

Whilst renting property does provide an element of freedom - and for many, helps avoid early commitment and responsibility - rent paid out is effectively disposed of with no real tangible return. Parents of course consider it an absolute waste. Coming out of University with a student debt is a millstone and contributes to youngsters’ inability to make their first home purchase.

With more disposable income at their finger tips than all previous generations, this does present the risk that the current generation might squander their income and dispose of it - without the benefit of securing an asset or attain some long term financial security.

So, other than rent a property, what alternatives do those not fortunate enough to be able to make their first property purchase have? Well, why not buy in Spain? Either as a solo consideration or bolstered by sharing with a partner or sibling, the potential is obvious.

Is this a crazy notion or a viable option? Other than the obvious attractions of the climate, the Spanish economy is buoyant and the property market has seen healthy growth over many years, and is anticipated to continue doing so. Entry-level property is much lower than in the UK and first time buyers can make a purchase with a mortgage as support and generate income through property rental.

Buying a Spanish home in the well regarded Costa Calida area offers a good example of what can be achieved. For a little over 100,000 Euros, one bedroom Spanish properties can be secured in a coastal area, while a good quality two bedroom Spanish apartment can be purchased for a small additional cost. With regular all year round flights to and from many UK airports into the heart of the Costa, a long weekend away or a revitalising short break is an added attraction.

For those with an interest in diving, fishing, golf, surfing, relaxing on the beach or walking in the mountains, owning a Spanish apartment has many advantages over its UK counterpart. Add into the equation lower living costs, no heating costs and lower community charges; plus the ability to take annual holidays there, and the facility to easily rent the apartment to friends and work colleagues all makes it a significant viable option.

For those switched-on youngsters considering buying a property in Spain, choosing a knowledgeable and reliable Spanish property agent can make the purchasing process in Spain a straightforward matter. And in today’s world dropping into casual conversation being an owner of a Spanish property is the ultimate in ‘cool’.

Andrew Regan is an online, freelance journalist.

How many times have you said that you want to enter into Sarasota real estate investing, but after how many months where are you, still haven’t invested any property at all?

If you really want to enter to Sarasota real estate investing or to any real estates, knowledge, action and determination are very important factors. These factors are needed to anyone who plans to invest in Sarasota real estate.

Knowledge is an important factor in real estate investing. You have to be prepared in entering to real estate investing. You have to gain the necessary information, and you can do this by researching. Do a lot of research. You have to research about the market, research for properties, and so on. You can get information with lots of books and even through the internet. If you are truly determined, then you can do everything just to obtain the information you need in Sarasota real estate investing. There are actually plenty of ways to have that information; all it takes is the eagerness, determination and action to obtain it.

Soon as you gain the knowledge, you can now search different properties or houses for sale, better to take time to look at them all. Jot down the positive and negative points of each house while you’re into the house tour. The information you listed can be useful in deciding which property to invest.

After searching for a lot of houses, it is time to choice which property that fits your qualifications. As soon as you pick out the house you want to invest with, making offer is the next step to do. Indeed, there are lots of people who want to invest in real estate, but all they do is research and research, they are afraid to do the next step. You see, if you really want to be successful in Sarasota real estate investing, action is very important. After all the preparation and learning, it is time to make it happen. Make an offer. And close a deal. These should be done to make the plan of yours in investing to Sarasota real estate happen.

Let us say for an instance, if you want to lose weight, determination and action are needed. If you want lose that unwanted weight, you have to be determined and take that into action. If you said you won’t be eating chocolates, pastas and sodas and just replace it with fruits and vegetables, then do not let yourself be tempted with chocolates, pastas and sodas. In doing so, you are making that losing weight to happen.

It is like in Sarasota real estate investing, if you are determined to invest, make it happen. You have to make your plan into action. If you already gave a lot of your time in real estate investing, then you do not have to be afraid, it is time for you to come out of your shell and make that investing happen.

If you finally found a good deal, grab it and go for it. Do not just let yourself feel fearful and suddenly needing more time. You’ve been spending much time and effort in Sarasota real estate investing, so you deserve to collect the reward.

Author:
Article Author Eliza Maledevic from http://www.Jump2top.com, a SEO Company. Visit our Sarasota Siesta Key Real Estate Sites at http://www.srqmls.com & http://www.siestakeyrealestate.com

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Savy real estate investors make $5,000 to $10,000 or more by flipping houses. These investors buy a home from a distressed seller and resell it quickly for a profit. Just because a seller has serious problems like a pending foreclosure, medical emergency or divorce doesn’t mean the house is a rehab. Many distressed sellers offer excellent houses in perfect condition discounted for a quick sale.

Distressed sellers are motivated for the chance to get out from under their overwhelming problems with an offer to close in ten days. To purchase a home quickly, you need to be prepared to offer cash or a have secure loan in place with a reliable mortgage lender.

Some real estate investors prefer to buy fixer-uppers from distressed sellers. Distressed fixers tender the best bargains to make the highest return on your money. For instance, if you put 5% down on a $200,000 home, spend $5,000 fixing the house up, and another $3,000 in payments, your cash investment totals $18,000. If you sell the home for a $70,000 profit like many rehabbers, you can see that your return on your investment of $18,000 for two months exceeds most typical investments.

This investment plan assumes that you have the knowledge and skills, time to work on your fixer, and that you sell the house as soon as its finished to a qualified buyer. Home improvement centers help you with how-to classes, brochures, and advice. You need to sacrifice your free time–TV, parties, leisure activities and work on your fixer. You could hire workers, but contractors and laborers may take longer than planned and decrease your profits.

The last part of the equation, selling your house quickly to a qualified buyer means you need to have the sales skills to get the buyers to sign your contract. Many investors seek free help from a loan officer to price the house right and to qualify their buyers. These investors earn their high profits by selling their houses by owner.

The most important issue, how you fix up your house, ensures that you quickly attract a buyer willing to pay top dollar for your transformed property. Investors use cosmetic strategies for decorating and fixing houses then sell their homes, for more than the asking price, three hours after putting the yard sign out.

Whether you want to make money investing in real estate by flipping or fixing houses, you need to understand your market. To get started in your real estate investment business, go house shopping. Look at up to one hundred houses before you make your first offer. You’ll soon learn how to pick up a flip or a fixer and be on your way to making a high return on your money.

Author:
Joe Carr writes about real estate Investing and Flipping.He has many years experience buying and selling houses and other property.