|Real Estate Information|
Refinance Rental Property - Dont Sell It
You own a rental property for years, and never see the "big pay-off." Is it time to cash in on your investment, now that you've paid down the mortgage, and values are up? Maybe not.
The Problem With Selling
Selling means you'll have to pay a large capital gains tax. This can be avoided if you reinvest through a 1031 exchange, but then the point is that you want your money, right? Also, a good rental gets more income as rents go up. Do you want to lose this inflation-indexed retirement plan? What's the alternative?
Refinancing Rental Property
Have you considered that if you refinance, you can get much of your gain out of the property, without paying a penny in taxes? Borrowing money is not a taxable event. You can take it and spend it however you want, and still keep your rentals.
Let's look at an example. Suppose you have owned a small apartment building for years. You bought it for $240,000, with a downpayment of $40,000, and mortgage payments of $1650 monthly on the balance. Now it is worth $400,000, you only owe $120,000, and your cash flow is around $800/month. How do you get at that equity?
A bank will probably loan you 70% of the value, or $280,000. After paying off the first mortgage, you are left with $160,000. With todays lower interest rates, your payment on the new mortgage will be about the same. At most you might lose $50/month in cash flow.
An even better scenario: Use $40,000 for high-return upgrades to the property, such as carports or laundry rooms, and then raise the rents. You could have $120,000 left over to spend any way you want, AND have higher cash flow. Does that sound better than selling your retirement plan? Don't sell. Refinance that rental property!
Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit HousesUnderFiftyThousand.tk
5 Things to Look for in a Property Appraiser
Homeowners who are seeking a property appraiser often ask "How should I choose which real estate appraiser to use?" When selecting a property appraiser, keep the following in mind:Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. While state licensing and/or certification isn't always an indication of quality, it ensures that an individual is has met certain standards and been authorized to perform property appraisals.
Selling Your Home - A FSBOs Guide to Keeping It Safe
Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards realtors, and so is the concern for those who are selling their own homes.
No More Estate Agent Fees
Follow a few simple guidelines, and marketing your own home can be easy. And it will save you thousands.
Invest In Real Estate - But Where?
Where should you invest in real estate? If you know an area well, and have enough experience investing in real estate, you can make money almost anywhere. However, there are always places that are better or worse for real estate investments - places that have a better demand/supply ratio.
Big Discounts With Property Investment Clubs?
A stagnant stock market, low interest rates and booming property prices over recent years have lead to more and more personal investors deciding to join property investment clubs.Property investment clubs are organisations that either buy property in volume and resell it to their members at discount prices or negotiate the purchase of large numbers of properties from developers, again ensuring discounted prices.
Choosing a Residential Lot
Finding a lotPlanning for your new home is a very involved process. You might want to get right down to selecting a set of house plans but don't get into a hurry.
What to Look for in a Real Estate Agent
Real Estate Agents play an essential, critical role in the process of buying and selling a home. You just simply cannot afford to work with an agent that does not exhibit top-scale professional values.
Investment Real Estate -- A New Twist: Be the Bank, Not the Landlord, and Get Rich Without the Work!
I was a landlord for a decade, and I believe I probably lost a year of life for each year I tried to maintain 26 properties. I learned the hard way that the most efficient way to make money in investment real estate is to create a mortgage note and be the bank - not the landlord.
Is Housing and Real Estate Bubble Hype Irrational Exuberance?
Not so, says the author of this article and four real estate books including the recent "1001 Tips for Buying and Selling a Home". The upside of the hype is for real estate consumers and investors.
5 Secrets for Surviving a Real Estate Market Downturn
History repeatedly serves to show us that the real estate market is cyclical. It has boom times and stagnant times, occasionally it suffers a crash but real estate never becomes worthless, therefore if the experts are right and we're about to suffer a slow to stagnant period in the real estate market, all is not lost!There are 5 fundamental secrets that real estate investors like to keep close to their chest and they are the secrets that enable them to survive and even profit during a bear market.
Selling Houses: Design Psychology Works!
I've taught the concepts of Design Psychology for many years, and I know how much it can empower a person, and allow them to create a fabulous home that sustains their emotions. Since it's based on science, I know that Design Psychology is effective at turning plain spaces into happy places.
Expense List for Buying a Home
There are many expenses that come with buying a home. The following list is a good example of what to expect:Down payment - A minimum of 20% of the home's purchase price is usually required for the best loan terms and to avoid paying private mortgage insurance (see below), but it's entirely possible to buy a house with a smaller down payment.
San Diego Home Evaluation
The Southern California city of San Diego has all the attractions of a big city with the tropical feel of the coast. Covering nearly 350 square miles with over 1.
What is a Foreclosure?
A foreclosure is an action taken against a property owner by seizure of his/her real property. It can be for many reasons.
Canal Front Homes in Venice
A bit about VeniceVenice, Florida was named by an early explorer who thought the beautiful, clean canals that snake through the coastal community starkly resembled the canals of the historic city of Venice, Italy. In the 2000 census, Venice, Florida had a population of 17,764 people and that number has continued to increase over the last five years.
Forclosure And The Durrett Rule
It's probably happened to you..
Selling Your Home In The Winter
In many parts of the country, selling a home during the winter months can be a challenge. Dreary, cold weather and the end-of-the-year holidays can keep buyers away and heighten fears of your home staying on the market longer than expected.
Preparing To Make A Zero Down Offer
I'm going to focus on the Seller of a hypothetical property you have found and the offer that you are going to make. You want to write it so it has a reasonable chance of being accepted.
How To Find Your Dream Home In Belize
Shopping for property in Belize is not as simple an undertaking as you might initially expect!Firstly, estate agents as we know them are non existent! Real estate brokers that do exist are likely to be unlicensed, unregulated and certainly not trained or insured.Secondly, the majority (and I mean the majority) of property for sale is not advertised!But with property prices remaining affordable, the quality of property available attractive, the climate beautiful, the people welcoming, the quality of life incredible and the opportunities in Belize plentiful, more and more people need to know HOW they can go about procuring themselves their dream home in Belize.
Using Color Psychology to Sell Your Home
When painting your home for resale, choosing the right colors can make a huge difference in your paycheck at closing. For instance, did you know that the exterior color of houses selling most quickly is a certain shade of yellow, but that choosing the wrong shade of yellow can kill a sale?You'll find many brochures in paint stores, showing various combinations of exterior paint colors.
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