Hiring a real estate agent is very important. Without the help of a real estate professional it would be a difficult task and one will have to suffer a lot. The process of buying a house is complex and most people find it easy to get through with an agent by their side. Whether you are buying or selling a property, an agent will guide you throughout the project. A professional agent can use all their knowledge and skills to guide you through the real estate process.
If you aren't on a six figure salary then for sure you pay a large chunk of your paycheck towards rent. In such a slow economy and stagnating remuneration it's really difficult to dedicate such a big portion of your income for rent when you try to save.
If you want to pay less money on your rent, I've got a few suggestions for you. Though most of these suggestions are just common sense, it's always good to refresh what you know.
Some Realtors are looking into and considering a niche market in working with real estate investors.
As a real estate investor, I can tell you 2 things. Working with investors can be rewarding and lucrative OR it can be frustrating, difficult, time consuming and involve unwanted surprises.
The difference between whether this niche can be rewarding and lucrative or not worth your time and effort is education and training....of the investor.
Which States is the best to invest in?
The best State to invest depends upon your goals. If you are interested in a return on your investment than a Lien State is the way you want to go. Iowa is a great Lien State to invest in because it pays currently 24% interest with a 2 year redemption period. If you are more interested in trying to acquire property, a Deed State is the best choice. Texas is possibly the best Deed State to invest in with a 6-month or a 2-year redemption period. To redeem property in Texas the owner must pay a 25% penalty, which you as the investor receive.
With real estate prices falling as much as 50% in the last two years, many real estate investors, as well as many trust deed investors lost a significant part of their principal. The real estate investors that used leverage ended up in an even worse position, sometimes losing their entire investment. Many trust deed investors ended up foreclosing on property and having to take large losses in order to sell in the current market environment. But it did not have to be this way. If these trust deed investors had followed simple common sense rules their principal would be intact today.
Short sales are becoming to hottest topic when there is a declining market. If you turn on the news, you even hear about short sell investors in the stock market.
Short sells and short sales are two totally different markets. Short sales are for homeowners that are over-financed on their mortgage or completely bad terms that could cause a potential hardship for the homeowner. In other words, the mortgage is usually more than the home is worth.
For every action there is a reaction. If things are bad for one, they have to be good for another, right? The same principal applies in the world of investment real estate. We have all read about the developers and owners of commercial real estate that are undergoing tremendous financial pressures with some being forced into bankruptcy. So what happens to their real estate? Well, the owner or lender puts it on the market at a discount to attract a solid, mortgage worthy buyer who can perform quickly and close a deal. Unfortunately, you as an individual investor or partnership will never see these deals because they typically involve several properties valued at several millions of dollars. And why would you want them? If the current owner can't sustain them what magic can you perform?
Welcome back. I posted the first part of this article, "Take Steps to Avoid Foreclosure (Part 1)". I discussed my observations while driving through a neighborhood in Chicago. The things I saw are not unique to this area. Foreclosure is an epidemic that plagues neighborhoods across the country-- rich and poor, urban and rural.
I was watching the news this morning and heard the continued reports about the collapse of Lehman Brothers, Freddie Mac, Fannie Mae, and Bear Stearns. And within the past few days, the Federal government has agreed to give $85 BILLION to AIG, the world's largest insurer. If large companies like these feel the stresses of the economy, imagine what we are feeling.
Solar innovation is reaching critical mass, opening new markets and driving solar developers to new real estate.
With solar PV (photovoltaic) costs collapsing by four-fifths in the last five years, and demand for renewable energy picking up, a perfect storm for solar energy installation is emerging. Incentives and tax breaks still make a big financial difference-and Congress did its part with the extension of the solar tax credit in the omnibus bill at the end of 2015.
In todayâ€™s real estate market, investors have many discount properties at their possession. Everywhere you turn there is another property up for sale. Some of those properties can not be sold because of price. A lot of those homeowners must sell at the prices they are asking because they either paid too much for the house when they bought it, or they refinanced their equity out of their home. To add on to that problem, a lot of those homeowners took on an adjustable rate mortgage or an ARM. An ARM is a mortgage loan where the interest rate adjusts based on the market indexes.
Are you getting your piece of the incredible profits available from foreclosure opportunities?
Wholesaling, Fix and flip, rentals however you decide to make money, right now the investment window has never been better.
However, it takes money to make moneyâ€¦
Have you thought about using your IRA, 401k, 403b or other retirement monies?
You have no doubt heard that you can do this but did you know that the old fashioned IRA is NOT real estate friendly?
Congress recently created a much better plan to use, a self administrated (SA) Defined Contribution (DC) plan. This type of retirement plan is very friendly for real estate investing.
I was driving through a neighborhood on the southeast side of Chicago this past Saturday and I was amazed at how the area had gone down. The area itself was never the best area to live in, but it was a place where people had a sense of pride. As I drove down one particular block, I slowed my car to witness five houses and multi-units in row that were abandoned. I looked towards the opposite side of the street and noticed numerous other vacant structures. As I continued, I again saw countless pieces of real estate that were without occupants.