In today’s market, there are three approaches that can be taken to determine the estimated value of a property: a comparative market analysis (CMA), a broker price opinion (BPO) and an appraisal. The CMA and BPO are both performed by local realtors or brokers while an appraisal is done by a certified appraiser. Depending on […]
Every time you take a loan out, you have options. In addition to the specific mortgage program and possible down payment amount, you will have the option of putting your property taxes in escrow every month. Doing this will place money in an account that your lender will have access to, as a means of […]
There is a common misconception in the business world that getting the best deal always equates to receiving the lowest price. There are many scenarios in which this is true, but there are other times when overpaying is both necessary and welcomed. Although this is counter-intuitive to popular belief, a good deal is represented by […]
If you are facing a cash shortage, one of the ways to get cash quickly is by refinancing any existing properties you may have. While this may serve as a short term solution, it can also have lasting ramifications when you are not careful. Between interest only and short term adjustable rate mortgages, there are […]
The primary goal for most landlords is to minimize vacancies and keep the cash flow cycle going. While this is an acceptable goal, there should also be some consideration for maximizing monthly income. Every landlord has to walk the fine line between getting as much rental income as they can and pricing your property out […]
There is a large portion of investors who will base their acquisition strategy on price alone. They believe if the listing is low enough, it must have some severe flaws or be located in a bad neighborhood. While this may be the case with certain properties, not all should be judged based solely on the […]
Numbers are important on every deal you look at. They can tell you the strengths and weaknesses of a property. However, they won’t tell you the whole story every time. If you are waiting for the perfect property with the best numbers, you may be waiting a long time. Numbers and data should be viewed […]
While the investing landscape is constantly changing, there are basic guidelines that will always remain constant. The retention of records and actions should always remain a priority. Everything you do in the real estate business should be documented. This will make it easier on you when you need to quickly retrieve a piece of information. […]
The two most important assets you have as a real estate investor are your credit and your credibility. If you are not up to date on your credit report and items appear that lower your score, it can cause you to miss out on time sensitive opportunities. The same can be said about your credibility. […]
Most new investors aspire to be successful enough to quit their day jobs. Self employment is perhaps one of the biggest draws to entrepreneurship in the real estate industry. While this is admirable, is it really the best move? Quitting your day job may sound great, but it might not be in your best interest. […]