Find Real Estate Investment Tips That Work for You

3 Places To Look For Water Damage And Mold After Having Leaks In Your Home Fixed

Posted by on July 24, 2016 in Uncategorized | Comments Off on 3 Places To Look For Water Damage And Mold After Having Leaks In Your Home Fixed

So, you had a leak on your roof fixed or addressed an issue with leaky pipes. This does not always mean that the problem is over. In addition to the leaks, there is a possibility that there may be mold growing in your home, or water damage to structural elements. When you have leaks fixed, you will also want to address any of these issues. Here are some of the places you will want to look for potential leak problems in your home: 1. Looking In The Attic For Signs Of Rot And Mold After Roof Leaks There are many areas of your home that can be rotted after a roof leak. When you have a roof leak repaired, follow the trail of water marks to see if any repairs are needed. This is easiest to see in an attic with a flashlight. Look for signs of rot and damage to rafters and ceiling joists. If you notice watermarks continue to walls, look inside your home for signs of damage on drywall on walls and ceilings. Sometimes, the problem may be hidden behind a wall and need repair. 2. Dealing With The Trail Of Water That Leaking Pipes Can Cause Leaking pipes are one of the most common causes of water damage in homes. You may have fixed a water line, but there can still be problems behind cabinets and in the walls of your home. Look where the leak was repaired for signs of mildew growth. If you see that there is mold, contact a mold removal service to inspect the extent of the damage. The problem can even cause moisture to be trapped in walls, allowing mold to grow and spread. 3. Issues With Condensation That Can Be A Returning Water Issue In Your Home Condensation is another problem that you may have in your home. This can come from areas that are not well sealed off, such as crawlspaces. Encapsulating these areas of your home can keep moisture out of your home. In addition, uninsulated pipes can be the source of moisture, so you want to make sure pipes and air conditioning ductwork have the appropriate insulation to prevent the moisture that causes mold to grow. These are some of the places that you will want to look for leak problems in your home. If you need help with finding mold and cleaning it, contact a home inspection service to help test for mold and recommend repairs and removal that may be needed.  Reach out to a service like Watson Inspections to learn...

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Four Things To Know Before You Buy Renter’s Insurance

Posted by on July 14, 2016 in Uncategorized | Comments Off on Four Things To Know Before You Buy Renter’s Insurance

Renter’s insurance is often overlooked by renters because they consider that it is unlikely to pay off in the long run. However, an accident that damages a resident’s possessions is just as likely in a home for rent as it is for a home that is bought outright by the resident. If you’re renting a property, you should be aware of the following four things. Being aware of these renter’s insurance factors will help you to get the coverage you need on the belongings you keep in your rental home: A landlord’s property insurance isn’t going to cover your belongings. A lot of renters make the assumption that their belongings will be covered by their landlord’s property insurance. While home insurance will typically cover a resident’s belongings if the resident owns the home, this is not usually true if the resident is renting. If you rent a home and you don’t have renter’s insurance, you will not be compensated if damage to the property destroys your belongings.  Having your possessions appraised is the best way to find the right renter’s insurance policy. It’s difficult to make an accurate estimate of what your belongings are worth unless you have them appraised. If you guess what the value of your belongings is, you may end up taking out a renter’s insurance policy that doesn’t have high enough coverage limits to compensate you for everything you own. Documentation of your appraisal can be presented to your insurance company to back up a claim so that you are able to be reimbursed the proper amount. You’ll want to take inventory every time you renew your policy. As time goes on, you’ll accumulate new belongings in your home. You need to have documentation of the purchase of these new belongings to get compensation for their destruction if you have to file a claim. This means that it’s important to repeatedly take inventory of the possessions you’re insuring every time you renew your policy.  Paying your premium in one lump sum can benefit you in the long run. Many insurance providers will offer you a lower overall premium if you pay upfront than if you pay monthly. Paying up front can also make it easier for you to budget for your renter’s insurance by taking care of the expense all at once. This way, renter’s insurance costs don’t continue to eat into your income over the entire life of your...

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Get Ready To Own Your Dream Home! Four Steps To Help You Save Up For Your Own House

Posted by on June 24, 2016 in Uncategorized | Comments Off on Get Ready To Own Your Dream Home! Four Steps To Help You Save Up For Your Own House

There is only one thing standing between you and owning a new home. Unfortunately, that one thing is the most important: the down payment. While down payments for homes fluctuate depending on a number of things that are taken into consideration, you should plan to have anywhere from ten to twenty percent of the overall cost of the house saved up before you begin looking. Those numbers may intimate you, but you would be surprised by how much money you can save just by following the simple steps listed below. Set A Goal Setting a financial goal may seem easy enough, however, it goes much deeper than simply saying you want to save a certain amount of money. For example, instead of saying that you want to save a ballpark figure before you start looking for a home, you need to have hard numbers. Sit down and go over your finances to determine exactly how much you can afford for a monthly mortgage payment. Make the goal plan as detailed as possible. The more detailed your plan is, the easy it will be to execute it. Analyze Your Spending Sit down and go over your last three bank account statements. Where is the majority of your money going? Looking back at the past three months of your spending habits will help you to pinpoint what you spend your money on and which areas you can afford to cut back on. If you are spending a good amount of your paycheck on fast food, you know that you will have to cut that out of your budget. You may be uncomfortable for a little while without having your perks in life, but it will be well worth it when you get the keys to your new home. Get Rid Of Cable That statement may have just hurt you a little, but no one really needs to watch television. If you can’t cut it out completely, see if you can shrink it a bit. Instead of having every channel available, call your provider and see if there are any packages that offer only the channels that you watch. Keep in mind that there is nothing on television nowadays that you can’t stream online. Having a monthly streaming service is much cheaper than having cable. Put Your Refund Away Are you expecting a tax return next year? Instead of spending it as fast as you receive it, place it in a savings account. You will have to exert self-control, but it’s important to put it towards the down payment goal that you’ve made. Consider putting your tax return, and other money that you plan on saving, in a high-yield savings account. A high-yield savings account offers a higher interest rate for your savings than a standard savings account. Don’t put your savings in a bank account. Putting the money in your banking account won’t garner any interest and it may tempt you into spending it. Saving for a down payment for your own house may seem overwhelming, but it’s really not. All you have to do is follow the steps listed above, as hard as they may seem, and you will finally have that home you’ve been dreaming of for years. Once you’re ready, contact a realtor in your area to look at...

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Faqs About Assumable Mortgages

Posted by on June 24, 2016 in Uncategorized | Comments Off on Faqs About Assumable Mortgages

If you and your family are looking at homes for sale, assuming the mortgage on a home is an option you should explore. As with the purchase of any home, there are requirements that must be met to receive lender approval for the home. To help you determine whether or not an assumable mortgage is right for you and your family, here is what you need to know.  What Is an Assumable Mortgage? An assumable mortgage simply means that when you purchase a home, you take over the seller’s existing mortgage loan. When you do, the seller’s responsibility for the loan ceases and you continue the payments. In most instances, there are no changes to the terms of the loan.  For instance, if the seller originally had a 30-year agreement with his or her lender and has made payments for the last five years, you will continue with the payments for the remaining 25 years of the agreement. Why Should You Opt for an Assumable Mortgage? There are several advantages to an assumable mortgage. For instance, if the interest rate for the home is less than the current interest rates, you could assume the loan at the lower rate. As a result, you would save money on the purchase of your home.  Another advantage of an assumable mortgage is that you could possibly save on closing costs. The lender might also allow you to take up the existing mortgage insurance payments as opposed to finding a new policy, which could be more expensive.  Are There Any Drawbacks? Although there are benefits to an assumable mortgage, there are a couple of drawbacks. You must meet the qualifications set by the lender to take up the home. In essence, you have to go through the entire loan approval process with the lender. It is possible that your loan could be denied.  Another drawback is that depending on the current value of the home and the amount of the loan, you might have to pay a larger down payment than you expected. If the value of the home increased since the loan was taken out, you could be required to pay the difference between the principal owed on the home and its current value.  If you do not have the cash on hand to cover the difference, you can take out a second mortgage. It is important to note that you will have to meet the requirements of the lender and you could be faced with a high interest rate.  Work with your real estate agent to determine whether or not taking an assumable mortgage is the right decision for you and your...

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Eliminate A Home Inspection At Your Peril

Posted by on June 17, 2016 in Uncategorized | Comments Off on Eliminate A Home Inspection At Your Peril

Although home inspections used to be insisted upon by most mortgage companies, some do not require them anymore. You can skip this step in the buying process, but if you do, you are exposing yourself to some serious risks. Legal Issues An inspection can save you from hidden legal issues. The current owner or previous owners may have undertaken remodeling projects without getting the proper licenses and permits. Your garage might have been added illegally and not be up to code. These issues are important because they affect the value of your home and your tax liability. If a room does not officially exist, you can end up with a legal mess or two to straighten out. Also, you need to establish clear boundary lines. You may be buying a home that extends over the property line. Conversely, the neighbors may have encroached on the property you are trying to buy. These property issues need to be resolved before you buy, or you can easily end up in court. Deal Breakers Even if the property you are trying to purchase looks perfect, many problems could be hiding in the walls, the roof, or the foundation. If the inspection reveals big problems, such as a rotten roof or high levels of radon, you can back out of the deal and be grateful you escaped. If the inspection turns up a variety of smaller problems that will need repair, you can ask that the current owner has these problems fixed or reduce the price of the home so that you can take care of the expense yourself. If problems are revealed by the inspection, you should actually be grateful. You may decide to go ahead with the purchase, but you’ll do so knowing exactly what you are buying. Cost The cost of a home inspection is modest. Most people spend between $266–369 for this service. Without an inspection, you could be exposing yourself to thousands of dollars of repairs or legal services. In your haste to get the property of your dreams, you just cannot afford to do without the inspection. A home inspection may seem like an unnecessary delay after you’ve found the home that you want, but not having one done is a huge mistake. If the inspector does not find anything wrong, just be grateful for the reassurance and do not think of the money as “lost.” A good inspection means you can proceed without worry. For more information, talk to a professional like Homestead Land...

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About Hiring A Property Management Company For Your Apartment Complex

Posted by on June 8, 2016 in Uncategorized | Comments Off on About Hiring A Property Management Company For Your Apartment Complex

Did you rent out your apartment homes to tenants without doing background checks and now the complex is in bad shape? If you want to bring the apartment complex back to a good condition in a timely manner, you might want to seek assistance from a property management company. The services you will receive are extensive and a worthy investment. Below, you will get a general understanding of how property management companies can improve your apartment complex. Weed Out Undesirable Tenants One of the main things that a property management company will focus on is the quality of your tenants. If there are any tenants that failed to follow the rules in their lease agreements, the management company will start weeding them out of the complex. However, the tenants will be given warnings before they are evicted based on the laws in your state. Any tenants that are evicted will be replaced with different tenants in a timely manner so you won’t have to suffer extended periods of profit loss. Make Sure Interior & Exterior Repairs Are Made A property management company will thoroughly inspect each of your apartment homes to determine what kind of repairs should be made. For instance, the management company will inspect for things such as water damage and drywall that need to be repaired. The exterior areas of your apartment complex that will be inspected might include the swimming pool, parking lot, and playground. The purpose of the inspection is to make sure repairs are done to make your complex more appealing to prospective tenants. Be Firm About Collecting Rent Payments On Time Making sure that tenants pay their rent on time is one of the services that a property management company can provide. The day that tenants fall behind on paying rent, they will be issued a warning that gives them a specific amount of time to pay. If tenants still fail to pay rent after being warned, an eviction notice will be issued so the matter can be handled in court. Keep in mind that the management company can also go easier on good tenants that fall behind on paying their rent, especially if they are usually on time. Keeping good tenants as long as possible is a smart way to keep your complex in a satisfactory condition. Stay On Top of Maintenance Requests You can count on a property management company to make sure that your tenants get a response to their maintenance requests without a long delay. Part of running an apartment complex is to keep your end of the lease agreement, which includes making timely repairs for damages that are not at the fault of tenants. Get in touch with a property management company for the assistance that you need....

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Tips To Help You Sell Your House Really Fast

Posted by on May 27, 2016 in Uncategorized | Comments Off on Tips To Help You Sell Your House Really Fast

Selling a house can take time if you expect to receive an offer for the full market value of the house. If you are in a huge rush to get your house sold, you will have a much easier time achieving this goal if you lower your price. The price of a house is one of the main factors that will affect how quickly it sells, and here are some tips to help you sell quickly. Make It Look Nicer Making a house look nicer to help it sell faster is something that professionals call “staging.” Staging involves performing mostly low-cost services or activities that are all designed to give your house a good impression by those that view it. This can include the following steps: Decluttering – If you want to move fast, you will need to start packing your house up. As you do this, remove all clutter from it and store the boxes you pack neatly in your garage or basement. Painting – A fresh coat of paint can brighten up a house and help make the house smell fresher. Always choose light, neutral tones of paint when painting before you sell. Giving it curb appeal – Finally, take a little time to make the outside of your house look neater and nicer. This can involve planting some flowers, removing clutter, and mowing your yard. When you’re finished with these steps, you can determine how you will put the house up for sale. List The Home Listing a house with a real estate agent is a great way to sell faster, and this is primarily because agents know how to advertise. You could try selling the house yourself, but it may be hard to get the word out. In either case, your best bet of selling quickly is if you list the home for a price that is less than the market value. For example, if your home is worth $140,000, try listing it for $125,000. Yes, you may not get as much for it, but it is more likely to sell. The other option you have to sell your home quickly is to look for a company that pays cash for homes. These companies buy almost any home for sale, and they do this quickly. These companies typically pay between 50% to 80% of a home’s value, but the transaction will always happen fast. If you would like to learn more about selling your house quickly, you may want to talk to a real estate agent or a company specializes in selling homes fast, such as...

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Selling Your Home? 3 Tips For Staging During The Summer

Posted by on May 20, 2016 in Uncategorized | Comments Off on Selling Your Home? 3 Tips For Staging During The Summer

You probably already know that staging your home is important during the selling process, but did you know that you should make some changes and adjustments based off of the season? For example, if you are selling your home during the warm summer months, keep these tips in mind.   1. Keep it Light and Breezy You will definitely want to lighten things up a little while staging your home during the summer. Swap out heavy textiles with light, breezy fabrics, and choose light or bright colors for your decor rather than darker shades. You’ll want your home to feel light and breezy during the summer months, not heavy and stifling. After all, you’ll want your potential buyers to feel like it’s a place where they could cool off and get comfortable all year long, including when it’s hot outside.  2. Showcase Your Outdoor Living Space If there is ever a time when it’s important to put a focus on your outdoor living space, it’s during the summer. A lot of potential buyers look at the outdoor space when choosing a home, especially if it’s warm outside and they’re thinking about enjoying the outdoor weather. Consider situating a few lawn chairs together in a cool, shady place in the yard, and call attention to grilling areas, patios or other fun outdoor entertaining spaces. Adding a pop of color by planting a few colorful, summer-friendly plants in your yard, or place flower pots around. 3. Stay On Top of Clutter from the Kids During the summer months, it’s possible that you have kids who are home from school and who are making more of a mess in the house than usual. This can be a tough thing when you never know when the real estate agent might call with an interested buyer, so consider placing attractive baskets or other similar storage vessels in common areas of the home. Then, it will be easy to toss items in the basket or bin quickly when your agent wants to do a showing. This can be helpful all year long, but it can be particularly helpful during the months when the kids are probably spending more hours of the day at home. As you can see, there are a few home staging tips that you should remember when selling your home during the summer. If you need additional help, consider working with a professional home staging...

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A Home Buying Primer

Posted by on May 11, 2016 in Uncategorized | Comments Off on A Home Buying Primer

Buying a home is not the easiest thing to do in the world, especially if you’re a first time home buyer. You can especially feel like you’re being thrown to the wolves the first time out. However, that need not be the case. Throughout the course of this brief article, you will learn a bit about the process of buying a home, particularly with regard to some of the financial aspects. Are You Better Off Buying? This is the first question you should ask yourself before diving headfirst into the world of home ownership. There are several things you should take into consideration before purchasing a home. First and foremost, are you financially sound and emotionally secure and mature enough to own a home? You also have to be able to commit to a certain neighborhood without the convenience of being able to move around at will. You’ll have to do a bit of research about the potential neighborhoods in which you’re looking to buy. Criterion For Potential Homes There’s nothing wrong with demanding and requiring things out of potential houses for sale. However, you need to keep in mind that you can’t have it all. When it comes down to it, there are two things that should temper your criterion for purchasing a home. These are the neighborhood in which you’re looking to buy and your budget. For example, if you’re looking to purchase in an urban area with a dense population, the chances of you finding a home with a big backyard, a picket fence, and a porch all greatly decrease. If you do find such a house, be prepared to spend a pretty penny and don’t expect it to necessarily fit into your home owning budget. Real Estate Attorney It can truly pay to hire the services of a real estate attorney. In some states, the presence of a real estate attorney during the purchase of a home is, in fact, required. A real estate attorney will ensure that all of your legal ducks are in a row before you commit to purchasing. Not only can a real estate attorney discuss the ins and outs of your mortgage with you in a way that is easy to understand, he or she can also address all of your neighborhood or home owner’s association’s bylines and what this will mean to any sort of changes or additions you might want to add to your home in the...

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3 Reasons To Utilize A Real Estate Title Service

Posted by on April 29, 2016 in Uncategorized | Comments Off on 3 Reasons To Utilize A Real Estate Title Service

One of the most useful businesses at your disposal when purchasing a home or piece of property is a real estate title service, mostly because utilizing one of these services can help you avoid potential issues in the future. Listed below are just a few of the reasons to hire a real estate title service. Determine Clear Ownership One of the most important reasons to hire a real estate title service is to determine exactly who owns the property that you are interested in purchasing or determining if the person or company offering the property for sale is authorized to make the sale. This is very useful in avoiding any potential scams or fraudulent behavior where someone may put up property that they do not actually own and then disappear with your down payment or earnest money. This service also helps you avoid time by ensuring that you know exactly who you must deal with in order to make an offer on a piece of property.  Look For Any Financial Issues Another reason to have a title service look into a piece of property for you is that they will be able to tell you if there are any financial obligations on the property, such as owed taxes or legal judgments against the property or current owner. This is very important information to have as the property may not be able to be sold legally until those issues are cleared or you may end up being liable for those judgments, owed taxes, or liens after you purchase the property.  Perform A Property Survey Finally, a real estate title service can help you out by performing a property survey in order to determine if anyone is using the property you wish to buy illegally. For example, if a neighbor is encroaching on the property, it can make it very difficult to get title insurance due to the fact that there may be an ownership dispute over the land. Title insurance is vital as once it is issued it will protect you financially if you purchase the land but another person comes forward afterward claiming that the land is his or hers. In that situation, if the person claiming the land is correct and the title company made a mistake, the title insurance will usually pay you for the home and repay your mortgage lender for the amount of the loan. Contact a real estate title service like TitleSmart today in order to discuss the many ways in which they can help you with your next real estate transaction. This type of service can determine if a title is valid by determining who actually owns the property and if any money is owed in relation to the property while also performing a survey of the property to ensure that the boundaries are not being encroached upon by a...

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