House flippers focusing on flipping luxury homes are a part of a rising market. While non-luxury houses aren't flipping as well, this market, if you can afford it is still doing well. Consider that the National Association of Realtors showed that sales of existing homes declined over ten percent in the last year. Starter homes, which are usually a common project for house flippers, are part of a decreasing market. Sales are just down among starter homes. Some of that is because of the higher interest rates too. Many people who house flippers would normally try to sell a starter
Do you want to get the best possible work out of your contractor? Some contractors have outstanding work habits, but let's face it, not all of them do. Some contractors need a bit more incentive to give you their best work. Here are five ways to make sure you get the best possible work from your contractors. Get The Best Possible Work From A Contractor Meet with your contractor once a day. Make sure you step foot on the job site at least once a day. That creates a kind of accountability. This is when you can get a progress
As a real estate investor, you can save yourself money and time if you know how to spot signs of foundation damage when you first look at a potential investment property. Some minor problems can be fixed, of course. If you only spot minor problems, it's possible that hiring a professional evaluator to check the property may be worth it. Not all foundation issues mean you should walk away from an investment property. But you can save yourself the cost of an evaluation if you can spot the major foundation issues yourself. Keep in mind, you're not just looking at
There really are tricks to getting your offer accepted over someone else's offer. You just need to know how to structure the deal. Obviously, proof of funds and pre-approvals for any loans you will get are critically important to a seller choosing your offer. Many won't even entertain an offer without them. Also, remember that to some people, the terms are even more important than the actual money. Your offer might be higher in actual dollars, but if your offer has more complicated terms, they might just pass on you. Don't create extra issues. Try to meet the sellers on
Smart investors often make an extreme profit by investing in promissory notes. See, a note purchase means the purchaser is buying a lender's promissory note instead of the actual property. The foreclosure process can be expensive in time and money for financial institutions. When a loan under-performs, these institutions are often willing to sell them at a discount. Note purchases are a risky business though. Legal counsel is strongly advised for all note purchases. Again, when an investor purchases a promissory note, the buyer buys a lien right from a lender. This means, the buyer can't actually possess the property.
When you find a “diamond in the rough” house or commercial property, you must act quickly! Day after day, investors are hunting for houses and commercial properties—and they probably have their eyes focused on the same prize. Discovering a spectacular property at the right price is the name of the game. If it is a short sale or foreclosure—you need to act right away. Banks are around to lend money and make money. They are not in the business of property management and most certainly want to dispose of the property as soon as possible. When a building or house