When the oven is done, we can eat some of the best pizzas around after we finish your transaction.
Showing posts with label Business and Economy. Show all posts
Showing posts with label Business and Economy. Show all posts
Tuesday, September 2, 2008
Cross Boarder Blogging Makes Good Pizza?
I am in the discovery phase of building a wood burning pizza oven at my home. I found a site that offers instructions on how to build them. After contacting the owner, he requested that I write an article for him. Check it out: How Eating Pizza With Your Friends... Can Sell Your Home Faster and For More Money?!!?
When the oven is done, we can eat some of the best pizzas around after we finish your transaction.
When the oven is done, we can eat some of the best pizzas around after we finish your transaction.
Monday, June 9, 2008
If You Want To Buy Foreclosures, This Is What You Need To Know
We got a great response from the write up on short sales, so naturally we need to educate you about the other side of the same coin: ForeclosuresForeclosures are homes that have been "repossessed" by the banks for nonpayment of a mortgage. They tend to sell at less than market price for multiple reasons.
Why foreclosures sell for less:
1) The property has not been properly cared for or even vandalized by the former owners
2) The property has been sitting, without care, for months
3) Vandals and thieves have stolen valuable parts of the home, like copper wiring and plumbing, or have graffiti on the home, vagrants have or do still occupy the home, used the toilets without water services to flush, etc
4) The property may have been a failed business such as a half way house, sober living home, child care, boiler room, etc and odd alterations have been done
5) Massive amounts of unpermitted, improperly completed, and/or unfinished construction has been done
6) The banks who now own the property do not understand the local market for the home, and the employees of the bank do not have a vested interest in getting top dollar for the home
7) The Real Estate agents who sell these homes are inundated with work, are underpaid by the banks, and do not have a vested interest in getting top dollar for the home
8) The banks demand very specific terms of sale, will completely rewrite your offer, will not do ANY repairs/credits after agreeing to an offer, and have a take it or leave it attitude
With that said, why would you want to buy a foreclosure? The bank is effectively paying you for the work, permit compliance, management, and maintenance that they are not willing to do.
The way that they pay you is through a reduced purchase price, which may result you actually having equity in the home after the pricing downturn is over.
While foreclosures are a good source of investments, even better deals can possibly be found in traditionally marketed homes. Some homeowners will price their homes for sale at foreclosure prices. BUT, these homes do not have all of the drawbacks that I listed above. So, you can buy a turn-key home (one that does not need any work to live in or rent out) for a foreclosure price.
Both of these types of homes are great buying opportunities. For the investor who is shy about making repairs and renovations, buying traditionally marketed homes can be a much easier undertaking.
Wednesday, April 2, 2008
If You Live in the UK, You Should Be Buying Real Estate In Los Angeles and California
For the past six months, investors from the UK have been contacting me about buying in Los Angeles. It makes sense: People from the UK can come to the states and double their money because of the extremely favorable exchange rates.
There are also cultural factors that contribute to the people in the UK understanding the benefits of owning Real Estate. If I lived on an island and was part of a culture with a long history, it would be very clear to me who the economic winners of the world are (hint: they all own real estate as their primary long term investment vehicle).
I have noticed that many of the people from the UK and other foreign countries have a lack of knowledge about the regulations and restrictions about who can own Real Estate in the USA. The answer: ANYONE can own Real Estate in the USA without restriction or applications or any other hindrance to the ownership and legal use of the property.
People who do not have a credit history in the USA will have to put a 30% down payment up to get a mortgage. But hey, when you are doubling your money that may as well be 15%! So for you investors with long term aspirations of owning many properties in the USA, start your credit history today! Talk to Katy Lin about credit, loans, and all the specifics at: (949) 981-2256
Take a look at my six month history for my web site, http://RealVana.com . The number of visits from the top ten countries are listed below. Traffic from the UK outnumbers the traffic from both the USA and Canada combined!
Also, we are always looking for more Realtors to join my site at RealVana.com . We are currently in the development stages, but would be happy to add your MLS listings to the site. If your territory is a different state than California, call me @ (818) 726-5982. The first to reserve a territory gets it locked in.
There are also cultural factors that contribute to the people in the UK understanding the benefits of owning Real Estate. If I lived on an island and was part of a culture with a long history, it would be very clear to me who the economic winners of the world are (hint: they all own real estate as their primary long term investment vehicle).
I have noticed that many of the people from the UK and other foreign countries have a lack of knowledge about the regulations and restrictions about who can own Real Estate in the USA. The answer: ANYONE can own Real Estate in the USA without restriction or applications or any other hindrance to the ownership and legal use of the property.
People who do not have a credit history in the USA will have to put a 30% down payment up to get a mortgage. But hey, when you are doubling your money that may as well be 15%! So for you investors with long term aspirations of owning many properties in the USA, start your credit history today! Talk to Katy Lin about credit, loans, and all the specifics at: (949) 981-2256
Take a look at my six month history for my web site, http://RealVana.com . The number of visits from the top ten countries are listed below. Traffic from the UK outnumbers the traffic from both the USA and Canada combined!
| Country | Visits |
| UnitedKingdom | 3437 |
| United States | 1332 |
| Canada | 1039 |
| Australia | 758 |
| Germany | 379 |
| India | 271 |
| Mexico | 251 |
| Ireland | 238 |
| Spain | 138 |
| New Zealand | 137 |
Tuesday, April 1, 2008
Turnkey Duplex
11670 Erwin Street, North Hollywood, CA 91606
The Numbers:
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
This property does not have a private feature. It also has a small shared backyard, an unfinished front patio, and a dilapidated common wall. By adding a plug in spa, inexpensive landscaping in the back, and two $299.00 canopies, you will have added large amounts of value for both units in the form of a lush, private spa.
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
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