Archive for July, 2009
Flip Or Rent?
Flip or rent? It’s a difficult question to answer. Both have some really great assets and both have some particular drawbacks. As investments go both are excellent ways to build wealth. The main difference is whether or o not you choose to go for the quick cash of a flip or building equity through longerterm ownership.
Lets investigate the flip first. The idea here is to purchase a home in need of a bit of work at a nice low price. Once you close on the home make a list of the necessary improvements and get to work. Ideally the changes will be only cosmetic and intricate alteration of the home’s structure or workings will not be needed. Good candidates for change are things like the paint fixtures appliances and other easily changeable things. Try putting down new floors for an added touch or refinishing existing hardwood if it possible. Another great idea is new cabinets for both bathroom and kitchen. The pros of the flip are fairly simple it’s all about the bottom line profit when the home sells. However keep in mind that the profit will be taxed as normal income. Also be mindful that the home may not sell right away. You should investigate local real estate trends first and make sure that your property is as competitive as possible.
Renting is an entirely different ball of wax. Purchasing a property for renters is going to be quite the opposite from flipping. You do not need a property that will be attractive to buyers rather a home with the necessary appliances and utilities that is well priced and clean. Keeping a property like this has some nice assets like longterm appreciation of the property and a monthly income. However you must be ready to be a landlord and be willing to wait until you have the RIGHT tenants. Also be prepared that you may occasionally have to kick someone out be strict when it comes to rent collection and any number of other tasks a landlord is responsible for. The choice is your but remember to be planned and ready for any eventualities that occur with either investment.
About the writer: Scott Baxter is a long time real estate investor and is also a real estate agent who specializes in Prescott AZ real estate. Scott’s passion for real estate has enabled him to become a leading expert in relocation to the Prescott area. Contact Scott today for more information or visit him online at www.prescottscott.com
Finding A Flipper Upper
If you are in the market for an investor property but do not want to spend tons of money you may want to look into buying a Flipper Upper. By purchasing a flipper upper of course I mean a fixer upper and the more fixing you need to do the bigger the profit potential. The uglier the house or owner situation the more equity you can force into the deal. If this sounds like something you are interested in you are in luck. There are thousands of flipper uppers available all over the country and the good news is most retail home buyers want a ready to move into property. The bad news is all the other investors know that with a little spit and polish these duds can be diamonds.
There are flipper uppers everywhere; all you need to know is where to look.
Listed below are some of the most common ways that you can find a flipper/fixer upper in your area.
1. The most traditional way of finding a fixer upper is simply getting in your car and scouring the neighborhoods that interest you. Investors like to call this driving for dollars. By doing this you may not come across a lot of properties odds are only about 5 to 10 in an hours worth of driving but you may find the one that really catches your eye. You are looking for neglected unkempt properties abandoned houses FSBOs for sale by owners or homes with for sale signs in need of TLC in nice neighborhoods. Remember you are not looking for beautiful you are looking for potential. If you do happen to find a fixer upper this way make sure that you take down the address to look up the owner on the tax rolls as well as the name and number of the real estate agent if there is a sign.
2. Finding a flipper upper can also be done by searching the classified ads. This is also a more traditional method of finding a property. You can look for key words like: fixer upper handyman special needs work or must sell. The best thing about searching for a flipper upper this way is that you will be able to search by location and price without ever having to leave home.
3. And of course you can search for a fixer upper online. There are two ways to do this. You can either search a site that offers listings from a variety of different real estate agencies or you can visit the site of each independent agency. Either way you will be able to find a lot of details on any fixer upper that may catch your eye. These sites offer information on pricing as well as pictures of both the exterior and interior when available. By searching for a fixer upper online you will ensure yourself of coming across the largest number of properties available in your area.
4. Find an investor friendly real estate agent tell them exactly what you are looking forin what area price range how much fixing up you feel comfortable doingand let them do the exploring for you.
Overall finding a fixer upper can be done in a number of different ways and to find a really great deal itll take probably all the above. There are even more sophisticated more profitable ways to search for investor properties well explore next time. These ways mentioned of searching for a flip are all free except for the time invested. The time you invest should be considered part of your real estate education. Because the more you drive for dollars the more houses you inspect the more pricing you become familiar with the more youll recognize a real deal when you come across one. Instead of overlooking these options why not give it a try? It does not cost anything to look and you may find that flipper upper of your dreams.
About the writer:nbsp;nbsp;Alex ONeal has been in Radio and TV for almost 30 years and has interviewed hundreds of experts on various topics. He is the host of the AmFm Real Estate investment Show where he interviews Real Estate Investing Specialists. Alex has been investing in real estate for the last 15 years and lives in Austin Texas. You can hear his Real Estate Investment Podcast at
http://www.AmFmREI.com
Find Awesome GA Apartments For Rent: Use Information To Get Atlanta Apartments
GA apartments for rent come in all shapes and sizes: from the spartan suited to those with a limited income to the lavish and luxurious appropriate to those with the means to afford the finer things in life. Where do you fit in? Dont answer yet! Read on because were going to give you an inside glimpse into the world of Atlanta apartments. Mind you might even find Atlanta apartments that will be able to cater to your every need in terms of GA apartments for rent and everything else that goes with it at rates you can easily afford.
Atlanta is known as a World Class City and has the headquarters belonging to some of the worlds biggest brand names. Think CocaCola ATamp;T Mobility Home Depot UPS Delta Airlines. Its also the place young and old the adventurous and the intellectual flock to. They want a better life for themselves and perhaps so do you. As such your first step toward finding that place youll be calling Home Sweet Home is to know where to look. Online is one possibility thats probably how you arrived here isnt it?
But the thing to keep in mind when looking for GA apartments for rent online is that there is a stark difference to looking for Atlanta apartments in person: you dont get to see what the place really looks like even if there are photos. After all the floor plan of GA apartments for rent might be completely different than is suggested by the images. And what about the neighborhood. Will your loved ones be safe? Will your dog be safe? What about yourself? And this is only the beginning of the questions you should be asking yourself.
The primary weapon you can arm yourself with when looking for Atlanta apartments online is information. See how much info you get from one property management agent for Atlanta apartments in comparison to another. Do they provide you with a feel for the place? Are they taking into consideration that you wont be there to see it in person and have therefore provided as much detail as you can soak up to ensure that you make the best decision and that they get a happy resident? Perhaps these questions seem trivial but youll be glad you asked them when the time comes.
So to make things a bit easier on you here are a couple of questions you should be asking when it comes to GA apartments for rent:
- Floor plan: it should provide measurements enough for you to take a piece of string go into your local park and lay out the entire apartment area. This is the most accurate way youll see whether or not youll be fit into the place or perhaps more importantly whether it will fit around you.
- Community: is your rental agent for Atlanta apartments providing you with enough information? If they say its nice or comfortable then you might want to probe for answers consisting of actual sentences that provide you with some clue as to whether or not youll fit into that specific area.
- Safety: Has your safety been taken into account? This not only means safety from other people but safety in terms of accidents that Life throws our way when we least expect it. The maintenance should be kept up well. Appliances should be in good order and most importantly there should be 24 hour emergency maintenance available.
- Rental Rates: If lots of people are flocking to one place you can be sure that this will affect the price of rent. Ensure that you get value for money when looking for GA apartments for rent there are places out there perfectly suited to your pocket and your tastes it just takes finding the right agent to get you there.
We invite you to consider these things whenever you have the time but make sure that you do. Your comfort your living experience should be suited to your tastes and needs. We know you deserve it and so do you.
About the writer: JAMCO Properties have been in the business for years and know what their clients are looking for when it comes to owner managed GA apartments for rent . Having helped thousands of satisfied individuals couples and friends find the perfect Atlanta apartments in the past their experience is guaranteed.
