|Real Estate Information|
4 Simple Tests To Find Good Real Estate Investment Properties
You're driving along the road when you spot it. There in the middle of a shaggy lawn sits a disheveled property. It may need a good coat of paint, or a shutter straightened out, but it's easy to see that with a little work it could be a little gem of a property. Best of all, sprouting in the middle of the unkempt grass is a For Sale by Owner sign. It looks like the perfect fixer-upper, but how do you know for sure?
First, consider your reason for buying. If you're looking for a property to 'flip' - to buy low, fix up and sell for a profit - there are a number of things you'll want to take into consideration. If your intent is to buy it as rental property, there's a different set of consideration, and if you're looking for a home of your own, there's yet a third. Let's assume, for the sake of this article, that your intent is to flip the property for profit.
Test 1: The Neighborhood Test
Before you invest another hour, do yourself a favor and take stock of the surroundings. The old saying in the real estate business that the three factors in selling a home are 'location, location and location'. What is the location like? No matter how wonderful the property is, you'll have a difficult time selling it for top price in a bad neighborhood. That doesn't mean that it's a bad property - depending on how low a price you can bargain, you still may be able to make a decent profit from it.
Another consideration in the Neighborhood Test is a bit more subjective, and you'll have a feel for it if you're local and keep an ear to the ground. Is the neighborhood in transition? A neighborhood that is on the cusp of a renewal effort like gentrification can be a great place to invest, as long as the upward momentum continues. An area that is on the outskirts of new development will often benefit from that as well. If, on the other hand, the neighborhood shows signs of slipping into a decline, you might want to pass the property by. If you can see that the neighborhood is slipping, so will prospective buyers.
Are there 'amenities' nearby? Depending on the neighborhood and your prospective market, those amenities might include a neighborhood school with a good reputation, a corner store within walking distance, or a park right down the street. In one Massachusetts city, for example, the value of properties in a formerly depressed neighborhood skyrocketed when a local university announced a commitment to provide full tuition to the children of neighborhood residents, and provided additional incentives to home buyers within several blocks of their campus. Investors who bought just before the announcement realized excellent turnaround on their investment.
Test 2: The Pricing Test
Is the home listed with a Realtor, or is it a FSBO? How realistic is the asking price? Is it in your price range? Can you work out a low or no-money-down financing option? How open to negotiation is the seller? Will you be able to realize a profit after making needed repairs?
Test 3: The Condition Test
This is one of the most important tests. The property you want to buy doesn't require any extensive, expensive repairs. It should be structurally sound, without any major plumbing or electrical problems. If you're just starting out, you'll want a property with repairs you can manage yourself - repainting, refinishing floors, a little landscaping. If the property requires more extensive repairs, it will cut into your profit, or eliminate it altogether.
When you view the property, really kick the tires. Look for indicators of hidden problems. Here are a few things to look for:
Test 4: The Title Test
The final test is the title test. Be certain that the title to the property is clear, with no liens or attachments that could sour the sale. If there are, and you still want the property, work out a conditional sale, where your purchase is contingent upon the liens being satisfied.
If the property passes all of the above tests with flying colors, congratulate yourself. You've got yourself an investment property that could turn a pretty profit for you.
Andrew is the web owner of Real Estate Investment Tips, a website that provides informational guide on real estate investment, foreclosure home and more. You can visit his website at:http://www.buy-and-sell-house-fast.com/
Real estate: The coming crash in commercial property Tahoe Daily Tribune
Windham County real estate edges back into focus Vermont Biz
Real Estate People, May 25 Sarasota Herald-Tribune
Lebanon County real estate transfers for week of May 25 Lebanon Daily News
San Diego real estate deals raise questions about property values, disclosures - The San Diego Union-Tribune
San Diego real estate deals raise questions about property values, disclosures The San Diego Union-Tribune
Boulder-area real estate, commercial deals May 25, 2020 Boulder Daily Camera
Larry Laukka, Twin Cities real estate developer, dies at 84 Minneapolis Star Tribune
Your weekly real estate roundup: Ventnor condo, the state of the market under COVID-19, Christopher Meloni's house and more - Press of Atlantic City
Your weekly real estate roundup: Ventnor condo, the state of the market under COVID-19, Christopher Meloni's house and more Press of Atlantic City
Residential Real Estate Transactions May 11-15 YourObserver.com
Sunday Summary: Facebook Is Still Taking Real Estate Commercial Observer
Social distancing in home selling: How Lehigh Valley real estate agents are adapting to new reality - lehighvalleylive.com
Social distancing in home selling: How Lehigh Valley real estate agents are adapting to new reality lehighvalleylive.com
Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties, May 24, 2020 - masslive.com
Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties, May 24, 2020 masslive.com
Signs of life in real estate market as stay-home orders lift – New Orleans CityBusiness - New Orleans CityBusiness
Signs of life in real estate market as stay-home orders lift – New Orleans CityBusiness New Orleans CityBusiness
Commercial real estate highlights Richmond.com
How the fight to expand ADUs in Chicago will impact real estate Chicago Agent magazine
Toro Real Estate Sells Suburban Jacksonville Community Multi-Housing News
Real estate transfers | News, Sports, Jobs The Steubenville Herald-Star
Sal Capozucca, Rock Drummer with a Real Estate Gig, Dies at 65 The New York Times
Newport County real estate transactions: May 23 newportri.com
Routt County real estate sales total $7M for May 15 to 21, 2020 Steamboat Pilot & Today
La Crosse County real estate transfers for Sunday, May 24 La Crosse Tribune
Re-Igniting a City Following a Crisis ConnectCRE
US Real Estate Crisis: Home Sales Plunge to 9-Year Low, Mortgage Delinquencies to Soar Past Great Recession Level - Bitcoin News
US Real Estate Crisis: Home Sales Plunge to 9-Year Low, Mortgage Delinquencies to Soar Past Great Recession Level Bitcoin News
Real estate still strong Santa Barbara News-Press
William Lyon, Orange County real estate magnate, dies at 97 Los Angeles Times
Blackhawk Community Credit Union shifting focus away from real estate development - Janesville Gazette
Blackhawk Community Credit Union shifting focus away from real estate development Janesville Gazette
DATA: A look at March residential real estate data in Pearland, Friendswood - Community Impact Newspaper
DATA: A look at March residential real estate data in Pearland, Friendswood Community Impact Newspaper
North Bay real estate market improves in May as remote workers shop the suburbs - Sonoma Index-Tribune
North Bay real estate market improves in May as remote workers shop the suburbs Sonoma Index-Tribune
Real estate down as expected due to COVID-19 shutdown The Grand Junction Daily Sentinel
Hot Property newsletter: Real estate plows through the pandemic Los Angeles Times
The Online Real Estate Transactions Platform, Spruce Raises $29M CIO Applications
There’s now a $32 billion pile of commercial real estate loans in special servicing, the first step to debt relief - MarketWatch
There’s now a $32 billion pile of commercial real estate loans in special servicing, the first step to debt relief MarketWatch
Charlotte's real estate market is still hot, and Costello REI gives us tips for homebuyers in 2020 - CLTure
Charlotte's real estate market is still hot, and Costello REI gives us tips for homebuyers in 2020 CLTure
High-end deals - Buffalo Business First Buffalo Business First
HABA Presents Online Panel Discussion on Real Estate and COVID-19 The National Herald
Worcester County real estate transfers, Sunday, May 24 Worcester Telegram
Citi Looks at Suburban Real Estate, While MasterCard Tells Its Workers to Stay Home - Commercial Observer
Citi Looks at Suburban Real Estate, While MasterCard Tells Its Workers to Stay Home Commercial Observer
Small hedge fund tries for change at a real estate trust, where activists often find a tough fight - CNBC
Small hedge fund tries for change at a real estate trust, where activists often find a tough fight CNBC
Stanley E. Sugarman, real estate firm owner who dealt with a segregated Baltimore in the 1950s, dies - Baltimore Sun
Stanley E. Sugarman, real estate firm owner who dealt with a segregated Baltimore in the 1950s, dies Baltimore Sun
Uncertain Times Call for Reliable Data PropertyShark
Governor Wolf Announces Real Estate Industry May Conduct Limited Business Transactions Statewide - pa.gov
Governor Wolf Announces Real Estate Industry May Conduct Limited Business Transactions Statewide pa.gov
Orlando real estate attorney says renters aren’t required to sign new COVID-19 agreements - WKMG News 6 & ClickOrlando
Orlando real estate attorney says renters aren’t required to sign new COVID-19 agreements WKMG News 6 & ClickOrlando
Century 21 Real Estate recognizes ProLink agents, offices Sioux City Journal
Coles County real estate transactions | Local | jg-tc.com Journal Gazette and Times-Courier
Aspen real estate snapshot: Highest and lowest sale of the week Aspen Daily News
Real estate transactions for May 24, 2020 | Business Roanoke Times
Commercial Mortgages: Real estate investors trying to figure out the long-term impact from the pandemic - Richmond.com
Commercial Mortgages: Real estate investors trying to figure out the long-term impact from the pandemic Richmond.com
Recent Commercial Real Estate Transactions The New York Times
Loaded with cash, real estate buyers wait for sellers to crack Crain's Chicago Business
Law Firm Leasing Activity Craters as Industry Rethinks Its Real Estate Footprint | The American Lawyer - The American Lawyer
Law Firm Leasing Activity Craters as Industry Rethinks Its Real Estate Footprint | The American Lawyer The American Lawyer
Mystery investor dumps big stake in real estate fund The Real Deal
Local Legend Lost | Rabbi Real Estate Rap | Zoom-Bombing Crime Highland Park, IL Patch
Despite coronavirus pandemic, Asheville's residential real estate market remains strong - Citizen Times
Despite coronavirus pandemic, Asheville's residential real estate market remains strong Citizen Times
A real estate earnings call season for the ages The Real Deal
Real Estate Showing Signs Of Collateral Damage- Part III Yahoo Finance
Zillow restarts home-buying business, showing confidence in real estate amid ongoing pandemic - GeekWire
Zillow restarts home-buying business, showing confidence in real estate amid ongoing pandemic GeekWire
Another Real Estate Crash Is Coming Jacobin magazine
Second Take: Real estate execs say the darndest things The Real Deal
Tehran Real-Estate Survey Financial Tribune
The Bubble Effect
Turn on the TV at almost any time day or night and you will find news and talk shows informing us that there is a Real Estate bubble. What is a "bubble" and how do they know? The simple principle of what goes up must come down is being applied in general thought now and many in the public are starting to buy it.
Evil Gains Entry
When we open our doors to strangers, we can never be certain what malice an outsider might bring in. Police officers tell us to keep our doors locked with good reason.
Planning for Real Estate with Estate Planning
One of the most important considerations you will need to make in regards to your real estate holdings and your estate includes tax planning. If not handled properly, your estate could end up getting hit with significant losses due to taxes after your demise.
18 Easy Steps to Buy a Bargain House
What is a "distressed" property? What is "bargain" real estate?A distressed property is one with a distressed seller. Job loss or transfer, divorce, death, pending foreclosure, and lack of money cause sellers to sell fast for less.
Are You Profiting From O.P.P.?
Are you profiting from O.P.
Late Mortgage Payments Sabotage PMI Cancellation
There's something you should know about PMI!Private mortgage insurance is commonly referred to as PMI. If a buyer makes a down payment of less than 20% of a home's value the lender will insist that a premium for PMI be added to every monthly payment.
Helpful Hints for First-Time Home Buyers
Buying a house can be a daunting task, even for someone who has owned several homes. My husband and I recently purchased our first home together, and it was hard to find good advice that we truly found useful.
Understanding Opportunity Cost When Investing In Property
While most investors have got involved in property investing because they understand the opportunities to make money through leverage and capital growth or high yields, I still see and hear of many who do not fully understand opportunity cost.Remember anyone that gets into property is usually in it to generate money or income - how many deals/properties you own is insignificant.
Do You Need to Download a Landlord Inventory On-Line Today?
Do you need to download a Landlord Inventory on-line now? Why is it so important to have a Landlord Inventory?Firstly, if you are a landlord, you need to be prepared. As much as we all like to think we can trust everyone, it is very important that buy to let landlords protect their investment property as thoroughly as possible.
What are the Top 11.5 Criteria for Selecting an Orlando Investment Property
1. Make sure units are larger than 1800 square feet.
Landscaping Adds Great Value to Real Estate And Helps You Sell
Over the years several of our clients have had professional landscaping done and it's amazing to me how little landscaping, can be done for $5-10,000, by a professional Landscaper, and how little value it can add to your home.Small shrubs, trees, and plantings add almost nothing, or actually nothing at all, to your home value on the open market -- until they are several years older! There is another way!Some savvy investors look for good homes that are poorly landscaped and after spending a couple of thousand dollars or less put the property right back on the market for much more money and sell it.
The 21st Century Way To Build Equity
Here to stay and firmly established in the U.S.
New Home Construction - The American Dream or The American Nightmare?
Buying a new home is suppose to be the American Dream. Unfortunately, for many buyers of newly constructed homes it becomes the American Nightmare.
How to Become a Successful Real Estate Investor
Many folks dream of becoming real estate investors, but not everyone has what it takes. If you're dreaming of becoming an investor, here are several important questions to consider, long before you buy your first investment property:1) Why would a homeowner sell a house at a bargain price?Many things happen in people's lives that make their home suddenly become a burden.
Renting a House
Renting a house or a room in your home is a great business that millions of people take advantage of to make some extra cash. While many people rent houses each year, not all of them are successful.
The Listing Contract: Its All in the Details
Now that you've chosen a real estate professional to sell your home, you'll need to work together to complete a listing agreement. This legally binding contract authorizes a broker and his or her real estate professionals to find a buyer for your home, according to the conditions specified in the contract.
10 Tips to Sell Your House Faster!
Here are some Handy wee Tips to help you Sell Your House Faster. These are all 'tried and true' tips we've gathered over years of Buying and Selling Houses, so I know for sure that they work!1.
Log Homes - What is the Log-Home Lifestyle?
Typical log home company advertisements in popular log home magazines talk about the "log home lifestyle" or "it's not just a home, it's a lifestyle." What does this mean? What is "the" log home lifestyle?It's often difficult to discuss the particulars of log home living without also talking about where the log home is located.
Questions To Ask The Landlord Before Renting His Apartment
Apartment hunting is not the easiest thing around. You may find places not suited to your tastes or those which do are not to your budget.
Real Estate Investing: Infomercial and Mentoring Scams
Flipping through late-night infomercials recently, I saw two real estate get-rich quick schemes, and I couldn't help but wonder why people still fall for those old scams? Has anyone really talked a seller out of his home for no money down with owner financing lately?Real estate infomercials do great harm to beginning investors, who waste hundreds of dollars on old information. Worse yet, those beginners soon get discouraged and miss out on the true (and profitable) adventure of real estate investing.
|home | site map|
|© 2006 TIGER MEDIA|