|
Discount Property Auction | Property Investment Online
Discount Property Auction allows you to buy numerous properties at substantial discounts, with ... 0 Bedroom, Detached, , Enfield
Read full post here. (c)
Search foreclosures in Enfield, CT - RealtyTrac.com
Search Enfield, Connecticut, CT foreclosures, pre-foreclosures, foreclosure auctions, bank-owned REO properties, online auctions, government owned foreclosures, for sale by owner ...
Read full post here. (c)
9 Timeless Truths When Buying Real Estate
(1) Buy At a Discount.
You do not need to find a foreclosure to buy at a discount. You can find discounts on the MLS and from private and related parties. You can also buy properties in pre-foreclosure and acquire discounted bank-owned properties. You can determine the level of discount you demand- but there are discounts in the range of 10-35% and beyond- so never pay RETAIL- you don't need to. (2) Use Low Amounts of Leverage.
Leverage is killing America in 2008. The fact that our country relies on credit and that we as individuals and a country are over-leveraged has sent our economy into a tailspin. Everyone agrees- we need to deleverage. You should be putting at least 20%-25% down- and with new tighter financing programs in place- you are going to need to. You should. Buying a property with all cash might be prudent and debt levels on investment properties should be in the 50% LTV range to ensure that you do not negative cashflow. Negative cashflows can bleed you dry and force you to sell or foreclose at inopportune times. (3) Good Neighborhoods.
Avoid sketchy neighborhoods. Be careful on betting that certain blue-collar neighborhoods are truly beginning to turn-around. Don't get too far ahead of the "curve" as some neighborhood revitalization don't materialize. You don't have to buy properties in the very best neighborhoods- but don't own properties in neighborhoods that you wouldn't be proud of. Check the cars and how homes are maintained as well as the level of retail and schools nearby and you'll know. Watch traffic patterns and don't buy properties far away from city centers and/or public transportation. (4) Low Fixup.
Avoid functional obsolescence such as torch down roofs, single pane windows, septic tanks, oil heat, galvanized plumbing, outdated electrical and big fixup projects. In this current housing crisis- there is no need to compound your challenges in light of the abundance of distressed properties. Keep your fixup to a minimum and do not over-remodel. Everyone is going back-to-the-basics and you may not get back $1 per $1 spent on remodel. (5) Would It Make a Good Rental?
Do not buy a property that is either too small or too big to be a good rental. Along those same lines, do not buy a property that is too beat up or too nice to be a rental. Even if your initial plan is to flip- make sure the property doubles as a good rental just in case something goes wrong. That way, you can rent it quickly and begin to earn income and cover any monthly expenses. Three bedrooms are ideal in my opinion. (6) Near or Below the Median Price.
A year ago, the median price in King County was $450k, today (in 2008) it is $415k. Make sure your properties are near or just below the median price. $399k has a nice ring to it. $299k has a nice ring to it. There is a big difference between $450k and $550k in this market. It is probably better to be near $300k-$400k. No matter how bad the economy falls- there is still a big level of demand at that price level in King County. (7) Good Tenants Only.
Do not rush to rent out your property. Go in eyes wide open when you are dealing with various pets and the number of inhabitants as that translates directly to wear and tear on your property. Examine their credit and look into their rental and work history. Evictions and major fixup costs a lot of time, money and energy you don't have to spare. (8) Examine Your Cashflow.
Some properties just cashflow better than others. Pick an un-leveraged gross rent that you believe in and never buy a property that does not meet your criteria. If, for example, you demand an 8% un-leveraged yield in year one and your un-leveraged gross rent after tax deductions is $16,000- never pay more than $200,000 for that property. (9) Sell on Your Terms.
If you follow these rules on cashflow, leverage, buying at a discount, and good neighborhoods- you will be able to sell on your terms. Do not sell at the bottom-when people are panicking. Sell at the top when skies are blue and the horizon seems infinite. The only reason why you lose your options to sell is typically that your leverage versus your asset value are out of proportion. If you follow 1-8 you should be able to sell on your terms- in your time. Just have the courage to sell when times are good- you don't have to time the peak- just make sure you are able to reap the returns that are in line with your personal risk-return goals. Incolo is a real estate blog about buying, selling, foreclosures, first-time home buyers, and all things real estate. Visit http://www.incolo.com for more great posts
NAVIGATION
Maximizing Your Home's Resale Value
The Phases of Mortgage Foreclosure
Foreclosure Laws in Michigan - Can Michigan's Foreclosure Law Save Your Home? Check it Out
Discovering Novato - A Family Friendly California Town in Marin County
Signs of Problems When Buying a House
Buyers Property Problems - It Isn't Easy Finding the Right Property
Tips on Buying Foreclosed Properties
Home Buying Help - Home Inspections, Home Protection Warranties, and Home Owners Insurance
There is Still A Lot of Interest in the Spanish Property
4 Home Buying Rebate Programs You Need to Know About
USA Leading the Way in Overseas Property
How to Finance Fixer-Upper Homes
Home-Based Business Opportunity - Buying Abandoned Self-Storage Units
Elmo, VA Real Estate Various Purchasing Considerations
Subprime Foreclosures Burst the Housing Bubble
Massive Potential to Profit from Real Estate Investment in Romania
Saving Homeowners From Foreclosures
Is Your Real Estate Agent Right For You?
Looking For the Perfect Home
Investment Land Types - A Beginners Guide
Basic Information About How to Buy a Foreclosed Property
What to Do When the Sale Price of a Home Does Not Pay Off a Mortgage
Signs of Problems When Buying a House
Buyers' Information Regarding Property Auctions - What to Expect
How to Find the Best Foreclosure Listings
Does Your Homeowners Association Pay Too Much in Property Tax?
Don't Buy Property in Poland Without These Facts
Guide to Buying Real Estate Property
Housing Bubble - Why Should Anyone Care?
Frequent Mistakes In Purchasing A Property In Florida Real Estate
Ways to Get Your Ideal Home
Buying Foreclosures Can Be Profitable, But What Are the Risks?
Initial Contract For French Property Purchase
Questions to Ask During a Home Inspection
What is a Short Sale?
Maximizing Your Home's Resale Value
Sunny Isles Beach Real Estate
North Cyprus Real Estate Tips - Information You Need to Know
How to Sell Houses at Auctions
Buying New Construction - 5 Tips What to Do When Buying Foreclosure New Construction Homes
How to Own a Dream Home in Spain
Finding The Right Fixer-Upper
Drop Shipping For Beginners - Start Small and Think Big
Buying Foreclosures For Investment? Better Do Your Homework!
Top 10 Things to Consider Before Buying a Home
Land Development Hints
How a Conveyancing Solicitor Can Help Take the Stress Out of Moving House
Judicial and Non-Judicial Foreclosure - What is the Difference?
Real Estate Investments As Passive Or Residual Income
Buying New Construction - 5 Tips What to Do When Buying Foreclosure New Construction Homes
HUD Homeownership
Dubai Property - New Steps to Boost Customer Confidence
Tips For Buying Short Sales Property
How to Build a Profitable Property Portfolio
Watch Out For Real Estate Traps
Confidence is Building in the UK Property Market
Shared Equity Schemes Help First Time Buyers Get on the Property Ladder
Everything About Realtors
Facing Foreclosure? Here Are Things You Can Do to Avoid a Financial Catastrophe!
The Advantages of Buying With Owner Financing
Selling of Property in an Auction
How to Buy Foreclosure Property
How to Buy Tax Lien Property
How a Conveyancing Solicitor Can Help Take the Stress Out of Moving House
Finessing the Financing - Navigating the Current Buyers Market Part IV
Buying A Home With Bad Credit
Home-Based Business Opportunity - Buying Abandoned Self-Storage Units
First Time Buyers and Model Homes
Buying vs Renting - Why Should I Consider Buying Instead of Continuing to Rent?
Real Estate Education - Finding the Best Note Buyer
College Towne Properties - 9 Steps Our Brokers Use to Help You Buy a College Rental Property
Beginner's Guide to Real Estate Investing 101
Property For Sale in Scotland - Peel Towers Offer a Characterful Alternative to Castles
Information About Edison For Potential Home Buyers
What Are the Key Term Players in a Short Sale (Foreclosure) Transaction?
Auto Auction Savings and Success
Buying a House During the Recession
Advantages of Buying Real Estate in a "Sketchy" Neighborhood
An Overview On How To Gain Information On Impounded Car Auctions
Tips on Buying a House!
Redoing an Old House
Buying New Construction - 5 Tips What to Do When Buying Foreclosure New Construction Homes
What You Need to Know About Buying Property in Panama
Radon and Lung Cancer - What You Don't Know Can Hurt You When Buying a Home
Polaris Golf Resort - Opportunities to Purchase a Recreation Home There?
Tampa Bay Real Estate - Hot Market - Promising Future
Advantages From Bank Foreclosures For Sale
Make Your Money at the Purchase
Foreclosure Investing - Understand the Right of Redemption
Walk Away With the Best Property Deal - Tips on How to Negotiate
The Point of Maximum Pessimism - The Best Time to Buy Property!
Purchasing Tips For Your Next Home
First Home Buyers Grant
Commercial Mortgage Brokers - The Difference Between Mediocrity and Excellence
All About Buying - Buying 101
Home Purchasing Checklists Provide Protection
Bank Foreclosures
Hiring a Milwaukee Home Real Estate Agent
First Home Buyers Grant
Land Foreclosure Rewards and Snags
|
