2018 REAL ESTATE BOOKS


Best Way to Find Foreclosures - 5 Tips for Finding Foreclosures

By Desare A Kohn-Laski 

Are you looking for foreclosures in your area? Conditions in various seller's markets may be different but there are still ways in which you can easily find foreclosed homes for your ownership.

Tap the services of real estate agents. Real estate agents are given access to a system which is known as MLS or Multiple Listing Service. It is through this system that the agents are able to find foreclosed homes in a specific area. Thus, tapping such professional is one way to find a foreclosure.

Scout for real estate yard signs. Banks are still into the practice of putting yard signs into properties that have come back to their stables of possessions. There are variations of these signs but aside from foreclosure, included among the most common signs are bank-owned, bank repossessed, and bank repo. Typically, the real estate agent's name is reflected on the sign. Take the opportunity to call whoever is written on the sign. with advanced thinking, you can already ask about forthcoming foreclosures in your area.

Join social media groups geared towards foreclosure buy and sell. Social media has become habitat to a variety of groups with different purposes and goals. Foreclosure groups are no different. They have thrived and lived on social media. If you are savvy enough, you will be lucky to find some groups over Facebook. Join them. You'll not only find foreclosures in your area. You will also be up for learning from the experiences, tips, and suggestions that will be shared by other members.

Visit real estate websites. Apart from the real estate agents themselves, a lot of real estate firms maintain official websites. There are firms which concentrate on foreclosures. There are also those which offer the buying and selling of mixed properties along with foreclosures. Either kind, you can browse through their listings and filter those properties that are already foreclosed or those that are nearing repossession.

Make your own ads. Digital marketing, aside from being free, is powerful in terms of the number of reach it can have. A single post can reach multiple sellers. Utilize your social media accounts for free posts that you are looking for a foreclosed property to buy. Just patiently wait for responses, and you'll be more than happy to see that there are indeed a number of persons who are willing to negotiate for their foreclosed homes.

Foreclosed properties are just near your place. By finding them and giving good offers, you are not only taking a step towards buying a dream house or an investment property. You are also making someone benefit from the amount that will be granted when deal is closed.

Desare is an experienced realtor and Military Relocation Professional servicing the counties of Palm Beach, Broward, and Miami-Dade. With a team of 90 real estate agents under her, your chase for your dream house will be an easy and flawless one, assuring you to obtain all the professional assistance they can give. For more details about her services, hop on to
http://www.skyelouisrealty.com.


Multi - Family Rental Property: Buying, Selling, Renting

By Richard Brody

Many of us, consider, whether purchasing a multi - family, rental property, is a good fit, in terms of being, a component of one's investment strategy, and process. Like anything else, a wise consumer researches, and becomes familiar with the possible, pluses, and minuses, and whether it, is for them. It is important to understand, and evaluate, the best, buying - opportunities, whether it should be sold, or if renting, is the best strategy. Should one purchase a new property, or an existing one? With that in mind, this article will attempt to briefly consider, examine, and review, when, and, if, someone should buy, and whether it is the best time to sell, and/ or, if renting, might be the best strategy and approach.

1. Before you buy: There are many considerations, before you should purchase, a multi - family, rental property. Are you going to live in one of the units, or rent the entire property? If you live there, your mortgage interest rate, will be lower, because it will be considered, an owner - occupied property, but, you also, will receive less revenue from rentals. Those doing so, often, look at this, as a way, to use rental revenues, to significantly, reduce one's own, housing costs. If you are looking at this, as an investment, then, your mortgage interest rate, will be slightly higher, your down - payment, a little more, and you might have to justify the viability of the purchase, based on rentals. A formula, I suggest, is receiving a 6% return, and a positive cash flow. This means, if the property costs $500,000, you must have a rent - roll of a net of $30,000 per year, after deducting real estate taxes, and owner/ landlord paid utilities, and basic maintenance. Therefore, if taxes were $10,000 and anticipated utilities and basic maintenance were an additional $5,000, then you must collect, at least $45,000 per year, in rents. Do this calculation, based on 10 months rents, in order to prepare for potential vacancies, etc. In addition, calculate the rents, and compare them, to your expenses, and proceed, only if this is a positive cash flow, and the 6% return, is achieved.

2. Selling: Is owning the best idea, for you? Are you prepared for the unanticipated expenses, and will you commit to putting aside, a reserve fund, for maintenance, repairs, and renovations? Is the real estate market, the right one, now, to get the best results, from a sale? Consider competition, the local market, mortgage interest rates, and how much, you feel, you need, from any transaction.

3. Renting: Ensure you do, a quality, legal, enforceable, screening process, and seek the finest tenants. There is no guarantee, but pricing correctly, to ensure, you are not the most expensive, often, creates the best opportunities. You must also, either, have the abilities, to do, lots of the repairs, etc, or have qualified service technicians, to prepare for the possibilities, and obstacles.

Like any investment, one should proceed, in the most prepared way, in order to make the best decisions, possible. It may be for you, or not, so, proceed, with your eyes, wide - open!

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands, conducted personal development seminars, for 4 decades, and a RE Licensed Salesperson, for a decade+. Rich has written three books and thousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE




ousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE




Reasons Some Rent, Instead Of Own

By Richard Brody 

Although it is generally, considered, to be the American Dream, owning a home, of their own, is not, for everyone! Although studies indicate, in the longer - run, it is more cost - effective, to be an owner, than renter, there are certain individuals, who, it is often, not for. With that in mind, this article will attempt to briefly, consider, identify, and discuss, some of the items, which might make someone, a less, than stellar, candidate, for home ownership.

1. Down - payment: There might be several reasons, certain individuals, lack the necessary down - payment, needed, to put down, in order to purchase a house. Some lack the necessary discipline, while others might not have the financial necessities, or have experienced major obstacles (economic/ financial, etc), which have made it challenging, to put together the funds. Others are afraid, to proceed, because they lack the self - confidence, etc, which makes them, ready, willing, and able, to handle the stress, etc.

2. Reserves: In addition to having the needed, up - front, funds, there are many other financial obligations. and preparations, needed and necessary! Wise individuals put together, at least 6 to 9 months, equivalence, in case of any interruption in earnings, etc. In addition, there should be separate reserves, for initial changes, or modifications, most new homeowners, perform. Then, money should be put aside, for regular repairs, upgrades, modifications, renovations, and unforeseen issues.

3. How much do you want it?: Are you prepared for home ownership? When you rent, your landlord is responsible for necessary repairs and maintenance, but when you own, you not only have to pay for it, but be responsible for either, performing the task (if you are capable) yourself, or bringing in a professional, to take care of it. This includes: electricians; plumbers; painters; concrete workers/ masons, etc.

4. Confidence: Do you have the necessary degree of self - confidence, to trust yourself, and your abilities, to handle the stresses and tensions, involved, in owning, a home, of your own? If the stresses and tensions, are things, you don't want to get involved in, and/ or, handle, then, owning a house, may not be, for you.

While I personally, enjoy owning my own home, it is not for everyone. One should seek, to better, know, what makes him happiest, most satisfied, and serves his personal self - interest, etc.

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands, conducted personal development seminars, for 4 decades, and a RE Licensed Salesperson, for a decade+. Rich has written three books and thousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE


EVENTS

2018 MAGAZINE


HOUSING RESOURCES

TOP 5 LOW INCOME HOUSING RESOURCES

-- How to find the best and the safest available low income housing options --

When the U.S. economy first entered a recession, millions of families were forced to take advantage of low income housing programs. And, according to federal statistics, those numbers continue to increase every month.

Low income housing properties are defined as apartments or houses that are a part of some kind of affordable housing initiative, usually sponsored by the federal government, the state, the city, or a non-profit organization. Such properties offer either an income-based rental rate or a flat rental rate designed to be affordable for needy individuals and families.

While there are many helpful programs available, finding the best and safest options can be a task. In addition, it can be difficult to find the best options available to families who qualify to remain in the home that they are already occupying.

Here are the top five resources to use:

1) HUD Office of Affordable Housing (OAP)

This government agency brings federal resources directly to the state and local level for use in the development of affordable housing units, or to assist income-eligible households in purchasing, rehabilitating, or renting safe and decent housing. Learn more

2) Making Home Affordable ® Program (MHA)

This program, sponsored by the Obama Administration, is a comprehensive plan to stabilize the U.S. housing market by helping homeowners get mortgage relief and avoid foreclosure. Learn more

3) PublicHousing.com

This web site provides a listing of public housing properties across the country, and other types of housing deals. The vast majority of their listings are affordable housing bargains. Learn more

4) Affordable Housing Institute

This non-profit organization provides housing finance expertise and thought leadership to other organizations working to make housing accessible to low-income people. Learn more

5) Low Income Housing Authority

This organization produces a free online national resource that is dedicated to helping individuals and families find low income housing, apartments, shelters, and more. The web site also provides answers to frequently asked questions. Learn more


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