Lomb Okland Property

October 31, 2017November 6, 2017

Tips For Buying Your First Rental Property

Buying a rental property could be truly daunting especially if it is your first rental property. You don’t want to fall into the wrong hands but you want to go for the best. One of the first places to start your exploration is Jason Hartman. The real estate education as well as topnotch real estate properties available in their platform is truly amazing. However, the tips mentioned below could be relevant in your exploration to get the best property.

Get Advice and Recommendation

If you truly want to go for a wonderful property, you need an advice from an expert. The expert could be a reliable realtor, a friend or a family member but the bottom line is that you need an advice. Ask for recommendations on a good property and seek advice from some of your friends who might be experienced in the field. You can also leverage the service of Jason Hartman here to get expert advice on all kinds of real estate properties.

Not all Realtors are Reliable

One of the greatest mistakes people make when buying their first rental property is to trust every realtor they meet. You might get a good deal with a real estate agent but your foreclosures will be listed on the Multiple Listing Service. This could be a disadvantage to you because your competitors will have access to this same information. As a result the competition might become higher and the cost of acquisition of the property might likely increase. Thus, you might be better off making your own research.

Have a good understanding of what you want and its cost

Before delving into a property, it is important to make a good research. Check with property managers, classifieds and also enquire if there are incentives. Careful enquiry and research will uncover to you whether there is heavy competition or soft rental market. You can also ask landlords and explore every available option to ensure that you get the best property at the most reasonable price.

Invest Equity at the Closing Table

One of the best ways to make the most of your property purchase is to ensure that you never buy any property at the retail market value. You need to ensure that you get reasonable discount before making a deal. As a matter of fact, you should balk from any deal if you can’t get at least between 10 and 20% discount on the property’s current market value. Thus, you might have to demand for the dealer’s valuation calculations and make sure that it tallies with your requirements before you proceed. In other words, you can proceed if the valuation is at least 15% below the market value. This puts you in absolute control of the situation and helps you steer the deal to any direction you want and ultimately ensuring that the investment would be a great one before you put in your money.

Of course, you can make a great deal and amazing profit on buying your first rental property. Get expert advice, make your own research, understand what you want and the cost involved and lock in equity at the closing table.

October 31, 2017November 6, 2017

A Guide For Investing In Rental Property

Real estate investment is not for the faint-hearted. You need to learn the secret of the game and play it well; else you may lose out in the process. Interestingly, there are huge potentials and options available in the real estate market. No doubts, you can make huge bangs for the bucks within a year if you know how to invest properly in properties. Jason Hartman can also assist you to make a better decision in real estate investment by educating you on the dos and don’ts of real estate investment.

Pick a great location

The success and failure of your real estate investment is dependent on the location you choose. The location you should choose will depend on what you want. Do you want long-term or short term equity growth? You also need to consider the proximity of your property to public transportation, major roads, and so forth.

Start Small

You don’t have to start big to succeed in real estate investment; as a matter of fact, it is advisable for you to start small. You can start with an affordable initial investment and grow the investment. This will save you from going bankrupt if things fail to work out the way you planned. Starting small also helps you to manage the investment especially in the early stage.

Treat the property like your business

To really make the most out of property rental investment, you need to have a business mindset. This connotes that you should properly estimate the rental cost associated with leasing precisely and know what to expect in each of the property. This will prevent you from making unnecessary loss and also guarantees substantial profit in the property investment.

Don’t spend too much on improving the property

Most real estate investors are tempted to spend a lot of money improving and upgrading the property that the overall cost of the property rise exponentially. You need to set a minimum standard for your properties and ensure that you never exceed that set standard. Essentially, you should factor in your net profit and the cost of the property in each of the expenditure you make on the property. This also relates to treating the property as a business and doing everything it takes to make profit out of it.

Choose Tenants Carefully

It is always difficult and stressful dealing with tenants. Of course, you need to properly screen tenants before allowing them to rent your property but you can easily do this by hiring a property manager experienced in the field to handle the job for you.

Investment into rental property is not rocket science. All it takes is a brave heart but with diligence and determination you can success substantially as a property investor. However, you need to ensure that you treat each property like a business. Of course, you don’t have to go out of bounds or allow the property to dilapidate. Set a minimum standard for the property and stick to it. Consider Jason Hartman property tips and guides to get the best housing properties.

October 31, 2017November 6, 2017

Why You Should Buy an Investment Property Before first Home

With the recent boom in real estate market and rise in property prices, it makes sense to consider buying an investment property before purchasing your first home. There are several reasons why you should consider buying an investment property, you can also find a handful of tips for buying an investment property in Jason Hartman but essentially an investment property is a great way to make money.

Here are some reasons why you should buy an investment property before purchasing your first home.

Real Estate Is Cheap

Although property price is rising, real estate is generally cheap. Furthermore, it is easy to find home sellers who desperately want to sell their properties at a cheaper price because of some financial constraints and distress. This could be a great opportunity for you to purchase properties at a remarkably cheap price. Of course, this is a great investment because you can subsequently sell at a higher price and make a lot of money in the process.

It is a great source of income

Investment property is a great source of investment. You may not realize how profitable it is until you find tenants. The money you earned from the property could be useful in financing other properties, paying off debts and bills and so forth. You can even use the money to improve the property more. In the nutshell, it is a continuous stream of income.

You can Leverage the FHA Loans

FHA Loans are great options for people who do not have enough money to purchase properties. According to industry standards, you need to have at least 20% of the total mortgage cost before purchasing a property. However, you can leverage the FHA loans if you don’t have up to that amount. However, FHA loans have its own downside; this loan requires that you live in the property you purchase. Of course, there is a workaround this downside. You can purchase a property that has several rentals and use one as your own primary residence.

Increasing desire to own a home

Statistics show that most people have an increasing desire to own a home. This is mostly true among immigrants and people changing locations. By purchasing a rental property instead of a home, this could be a great opportunity for you to make a lot of money. Property prices are on the rise and with increasing demand; you can easily rent your property at a higher price and make a lot of money in the process.

Real estate investment is one of the best ways to make a lot of money effortlessly. It may not be easy to come by at the beginning of the process but with dedication and effort you can achieve the needed results. Rather than purchasing a home, you can purchase a rental property. This guarantees regular income and a lot of other benefits. Jason Hartman provides lots of important information, tips and guides on real estate investment to make it easy for new property investors to hit the hammer on the nail in each of their investments.