Are you a real estate agent? How is business going for you right now? Have you heard of the latest trend in real estate? If you haven’t heard about buying real estate seller leads, then you’re probably the last one to know. You are facing a lot of competition now. If you haven’t bought any seller leads for realtors, then you won’t have any potential client left for you.
If you buy realtor leads from your chosen companies, you usually get the leads nearest to your area of “jurisdiction.” The lead-generating corporation will call you, email or text you as soon as a new lead is generated. The problem sometimes with some corporations that sell leads is that they have many leads and many agents competing for the same leads. You just need to choose a trustworthy and credible company to search available realtor leads for you to ensure your sales.
Buying real estate agent leads that work is worth your dollars. Why? Here’s a simple explanation. You can buy a lead for about $10.00- – $20.00, depending upon the company you chose. To make sure that you’ll have more chances of securing a deal, you buy a hundred leads. More leads mean more potential buyers. That’s roughly equivalent to $1000.00 – $2,000.00 for the leads you will buy. If your commission as a real estate agent for every property you sell is about $5,000.00 and you got at least one sure buyer with the leads you purchased, you still get to have $3,000.00 – $4,000.00 earnings. That’s not a bad deal right? What if out of the hundred leads you bought, 50% were closed sales? That’s 50 sold properties which would give you $250,000.00 commission and you only invested a thousand dollars at the start. Well, that’s totally big earnings right? Definitely, buying real estate agent leads that work is worth your dollars.
You probably heard many complaints from other real estate agents who don’t earn big even if they have already bought real estate agent leads. The problem most of the time is not on buying real estate seller leads; the problem lies on how you manage those seller leads for realtors. It is not a 100% guarantee that all your leads will buy from you and get your service the very instant you contact them. However, there is a higher yield of sales if you purchase real estate agent leads. Some of the customers might not buy any property now but they have future plans of downsizing or buying additional properties for their growing families. You just need to constantly update these leads or contacts you have. Go ahead and email them. Share to them if you have promotions or discounts. You have to build trust and loyalty with the leads you have. In establishing good relations, your potential buyers could even recommend you to their friends and colleagues. At the end of the day, you will absolutely gain bigger profit. Now is the time for you to buy real estate agent leads and manage them well.
There are many aspects to sustainability when it comes to real estate and properties. A properties roof is usually the largest fixture of a structure. What goes on a roof is extremely important.
People always ask, “What is the best roofing shingles?” Clearly, as one could imagine there are many answers to this question, since there many factors to be looked at. However, among all the high class shingles; Malarey Alaskan shingles does definitely win a special place among all the shingles. The Alaskan is a traditional 3-tab shingle that has all the high end features, including Malarkey’s unique Flexor SBS polymer modified asphalt to promote extreme weather protection. The Alaskan shingles includes the Scotchgard Algae Resistant Shingle Protector from 3M for added security against algae staining. So if if someone wants a traditional look, but with the high tech features, this is the best choice. Also, this shingle is also one of the best shingles in terms of cost. Kevin Brown, a roofer at DFW Best Roofing said, “As a roofing Dallas company that has installed hundreds of roofs, the Malarkey Alaskan is definitely a unique shingle among shingles.”
Some technical information about this shingle:-
Algae on a roof causes black streaks, which can alter the color of the roof and make it appear very old. Shingles with Scotchgard Protector help maintain the long term beautiful appearance by keeping the black streaks caused by algae away, Malarkey Shingles with Scotchgard Protector include a 20-year warranty.
High end shingles usually are class 4. Malarkey’s Flexor SBS polymer modified asphalt shingles received the UL 2218 Class 4 impact resistance rating. In a Class 4 impact test, Malarkey’s Flexor SBS polymer modified shingles withstood a simulation of hailstones impacting a roof at 90 mph (144 kph) without sustaining damage. That is truly amazing.
When granules stay on the shingle, it creates a barrier from the elements of the environment and your roof lasts longer. Many times the granules start falling off the shingles as soon as you open the shingle bundle. Malarkey’s Flexor SBS polymer modified asphalt is resilient through the ups and downs of temperature cycles, it has greater granule adhesion to the shingle tab.
Malarkey’s modified asphalt ensures that shingles are flexible in temperatures down to 0˚F (-18˚C), which is 40 degrees lower than the typical installation of standard asphalt. This cold weather flexibility allows the shingle to be installed in colder temperatures than standard oxidized asphalt shingles without damage to the shingle. The Malarkey shingles conform to a variety of roof structures, withstand extreme weather cycles, and be installed in a wider range of climates. The Alaskan shingles come with a 110 mph Limited Wind Warranty.
With the installation of Class 4 shingles, insurance companies give discounts. Check with your insurance company to learn more. In addition, Usually the company that does the installs also offers a labor warranty. In addition, to the labor warranty, one can get a warranty from the manufacturing company. The Alaskan shingles are eligible for a 120 mph (193 kph) Enhanced Wind Warranty when Malarkey’s Smart Start shingles are installed, shingles are 6-nailed (5 is the standard), and one or more of Malarkey’s supporting products – Arctic Seal, Right Start UDL, SecureStart, EZ-Ridge (8″, 10″) or Hip & Ridge Strips (10″, 12″) – are used. To learn more about getting a Malarkey Alaskan Shingles installed contact DFW Best Roofing.
There are many reasons to have good security measures set up for protecting your home. Apart from natural disaster threats like earthquakes, floods and typhoons (depending on where you live), one of the nastiest pests is completely man made, human beings. Namely criminals in particular. Career criminals do not discriminate when it comes to family values or virtues.
If they happen upon your home or office premises and they see potential, then your home is a target. It doesn’t matter if you have children, or are elderly or infirm. Infact none of these options particularly matters if the criminal is a drug addled or alcohol driven addict. The best way to protect your home, family and possessions is to have some form of home protection system.
This can include all or some of the following:
An alarm system ought to be one of the standard safety protocols in all homes. Money is not an excuse anymore as you can get quite cheap DIY systems for a few hundred dollars. You can’t put a price on safety by saying you can’t afford it. What happens when you need an alarm during the night? If you’ve failed to invest in your family’s security you have made a bad decision.
New Wireless DIY Alarm Systems
There are lots of systems on the market ranging from traditional wired alarms to the more modern wireless systems that you get from companies like SimpliSafe. You can read a SimpliSafe review here to find out all the basic features and how to install it. It is one of the cheapest systems on the market, but it is very powerful. As it is wireless you can place sensors all over your house and they will send signals to the master control unit.
The handy thing about wireless systems is that you don’t need to do a lot of construction work getting them installed. So if you bought your home years ago this is good news. You don’t have to feed wires across the floorboards, or lift them up to get the wires to go upstairs. And if you want an added layer of protection you can also make the alarm active with the monitoring company attached to SimpliSafe. The best thing about this is that it is a 30 day contract so if you decide you don’t want it you can cancel without any hassle.
Home invasions work differently than burglaries. They are well planned and thought out before the act takes place. Home invaders are more prepared than opportunist criminals who hope to catch you off guard, or who stumble upon an opening whilst scouting out your neighborhood. No, a home invader is a different breed of animal altogether. They will stake out your house in advance and keep records of your daily routine. They will record all the finer details of your weekly activities and fine their plan around the statistics they record. Yes, i used the word statistic. That’s all your are to a super criminal.
Too Many Years Watching Kojak
Just like a detective would stakeout a joint and create a profile of a criminal, in this situation the scenario is reversed. Criminals have used all those years of watching gritty detective series and done a u-turn on the right side of the law. What’s also scary is that such a criminal will follow you to your work, where you go to the gym and drink coffee. Creepy. They will also assess the risks you pose and whether you would put up much if any resistance under threat.
Apart from following you as you go about your daily routine, advanced criminals will actually call at your door and scout out your “joint”. They can pose as delivery men for instance, and in many case use a female to approach your door. Deceptive tactics like these will throw you off guard.
Never let anyone into your house unannounced. You will remember if you ordered a carpet cleaner, or if the gas company sent you a letter stating they are sending someone out to check for leaks. And that brings me to mind the tactics of a super criminal. They will send a fake letter with the official letterhead paper of the water or gas company and alert you to a home visit.
Always check the phone numbers and then ring the official number to check if such a visit is valid. Very rarely or ever will someone from the water, phone or electric board alert you concerning a home visit. No one has the privilege of entering your home unless you booked them, or if they are friends or family.
While it’s both possible and probable that your credit score may be adversely affected by either a short sale or foreclosure, it is also true that these credit report blemishes shouldn’t be a long term hindrance.
You might consider undergoing some credit repair or credit restoration. This is something that you can either outsource or attempt to tackle on your own. It’s not all that difficult to do on your own, and, when systematically taking a step by step process, it can be easily accomplished in a manageable way.
The first step in the process is to get a copy of your current credit report and start reviewing it. This part is non-threatening step, yet seems to carry a huge psychological obstacle. Many people are afraid to access their credit report because they are fearful that it will be “poor” and, as a result, they would rather bury their head in the sand and ignore it instead of taking the necessary steps to improve it.
The reality is, however, that you won’t be able to begin the journey of restoring your credit without knowing your point of origin.
Many commercials come across the airwaves, both television and radio, of companies offering you a means of accessing your credit report. In fact, you might even be able to sing their jingles along with the commercial.
I have two concerns:
1. You’re entitled to 1 annual free credit report (the government requires the 3 credit reporting bureaus to provide this). You can get this at annualcreditreport dot com.
However, if you go with this option, please understand that while it is free, it increases the time that a creditor has to investigate any of your disputes from 30 to 45 days. In my opinion, this isn’t necessarily the best option. You’ll better understand why once you learn how the dispute process works. Also, be aware that this service doesn’t have to give you your 3 digit credit score – which you might want to know.
2. Most of the other services offer you a free 30 day trial period, and then you get “enrolled” in their credit monitoring program. If you aren’t the type of person to keep up with the billing cycles of these “free” offers, you may find yourself paying for something that you wouldn’t normally have spent money on.
The real estate business is one of the most cutthroat businesses in the whole wide world. Presence of so many real estate agents in the market has created a lot of competition for agents who actually know about the property market and are capable of advising their clients.
There are many ways for real estate businesses to differentiate them from others in this market. One of the easiest ways is to have their own well-designed and resourceful website. Many studies have found that most of the perspective homebuyers and renters perform online search before finalizing their decision. Also, in this age of social media, people are always going to talk about a particular service and business. A website provides a platform to an agent to drive the conversation.
There are many other advantages of investing in a website and some of those advantages are mentioned below.
Creating and Solidifying a Brand
One of the biggest advantages of one’s own website is that it allows you to create a solid brand on the market. Personal branding is the most important asset in the real estate market. If you do not have a website, potential clients will usually land upon your company website or one of your social media profiles that do not allow you to tell everything about your service and the property.
However, on your own website, you will be able to list various benefits of working with you, your achievements and everything else you would like to mention to a client.
Attract More Clients
Another advantage of having your own personal website is that it allows you to attract more clients to your business. You can hire the services of a search engine optimization company that can help you achieve first page rankings for the real estate related keywords in your targeted market.
Internet searches offer a lot of new potential leads and a website provides you an additional platform to capture that lead.
Offer More Property Details
On your own personal website, you can choose to display additional details of the property that you cannot show on other websites. On your website, you can post a variety of pictures as well as a video of the property, you are trying to sell.
Other websites do not necessarily allow you to post more than a fixed number of photographs or videos.
Real Estate Website Designers
Even though, there are a lot of the website designers selling their services in various marketplaces and on their own websites, experts recommend that real estate agents should hire the services of an experienced website designer team that understands the real estate market and has previous experience in designing such websites.
As far as a choice of content management system is concerned, there is nothing better than a wordpress based website. It is very easy to update and there are quite a few talented wordpress designers in Australia that can deliver a highly unique and gorgeous website for your real estate business.
Platinum Web Media is one of the premier Australian real estate wordpress website design agency. Our team of WordPress expert has helped a number of real estate agents in having their own unique and great looking website. We understand the Australian market and know how to design an attractive and highly converting website.
Give us a call today and our experts will be happy to help you in creating an amazing real estate website.
A lot of people these days are looking into real estate properties. One of the best investments that you can try today is the buy to let mortgages. With the continuous rise of mortgage rates, some investors searched for other opportunities. Still, if you think that this will work for you and you want to become a landlord, you can give it a try. Make use of these tips and you will surely succeed.
Colon Street – Named after Christopher Columbus, Colon Street is deemed as the oldest street corporate center in cebu Cebu. The place is dotted with restaurants, cinemas, boutiques, and other business establishments.
Aside from the four tips listed above, you need to make sure that the budget hotel you are booking in has the license to do business. This means that the hotel needs to have a business permit from the houses in cebu Mayor’s Office and the houses in cebu Tourism Commission.
A real estate agent or broker can be a great help in making a sale. But of course, in hiring a real estate agent requires some costs. A huge brokerage commissions makes a lot of investors turn off to the idea of hiring a real estate agent and just do the selling process on their own. In doing so, the investors believe that they will have an increasing residual income. If you truly wanted to sell your property on your own and don’t want to hire a real estate agent, better to take these steps into consideration.
In Alberta, a lot of homeowners to be are saving a lot of time through finding Park Point Resindeces through MLS listings. Through this, they have an easier access to information they are about to ask from the seller. In Alberta, MLS listings in Airdrie are becoming popular. It is being used by those who are having a hard time in finding an Airdrie real estate property. And since every listed Airdrie property is considered legitimate by reputable companies that give buyers the MLS listings; the buyers are now one step closer to their dream home.
Two local featherweights made their debut, Salvador Cifuentez of the Alliance Training Center in Chula Vista and the former Mexican amateur standout Christian Bojorquez of Tijuana, Mexico. Even though Cifuentez was four inches shorter, he remained the aggressor throughout. Bojorquez did exactly what he was supposed to do. He moved laterally, employed an excellent defense and countered well. After a while Bojorquez’s hard jab and sharp punching took their toll. As the fight progressed, Cifuentez slowed a bit and landed his punches less frequently. The majority decision of 38-38, 40-36 and 39-37 awarded Bojorquez the win.
There you can learn how to buy complete renovated properties by becoming one of their greater client-base. Find out how to get access to investors through private funding strategies. Learn how to analyze if a property what will be a money-making investment or a money pit.
It takes a great deal of money to purchase real estate properties. Its a good idea to have big cash amounts on hand to withdrawal. Keep your money in the bank until you are ready to buy up some properties. This easy suggestion in the game is a terrific thing to follow, because its a great wealth building tool that will help you in the game.
Buying investment land is an event different from anything, and you need to prepare accordingly. You cannot treat it like something else you would have done years ago. Provided you would like to do well with investing in recreational land, you ought to train every aspect of you for the distinctive challenges that buying investment land presents.
Buying investment land is a quest that entails a great deal of preparation. We will study all the steps of the planning process. This way you will really think of how you could buy investment land. The first thing to do is introspection. With this, you ought to be sure that buying investment land is an action you can indeed do.
The easiest method to make that assessment is to ask yourself these distinct questions:
Do You Want To Make Money On Your Investment?
Do Want To Do What Rich People Do?
Are You Willing To Take That First Step?
Expectantly, your reply to the questions was “yes”. Those practices are typical among people who buy investment land. You have swiftly taken the first step towards buying investment land!
Buying investment land would probably not be the hardest part of preparing. Buying investment land is a an extended process that entails on average 6 months. It is ideal to be as equipped as possible before getting started.
Here are some guidelines to get you started:
– Asking real estate agents about land for sale
Asking real estate agents about land for sale is so vital because without doing this, you could become uninformed. This could result in being unable to buy investment land. There are certainly certain traits that people ought to have in order to invest in recreational land. So individuals with these traits will already ask real estate agents about land for sale regularly.
– Researching land purchase opportunities
Researching land purchase opportunities is a no-brainer. You probably already understand that you’d basically need to research land purchase opportunities in order to buy investment land. Individuals who are not able to research land purchase opportunities regularly could unfortunately encounter challenges with buying investment land.
– Looking for land purchasing opportunities
Looking for land purchasing opportunities helps you buy investment land. Understandably, this may be problematic to get in the routine of doing this. Begin by looking for land purchasing opportunities each day, and this ought to become force of habit when you buy investment land.
Those particular habits could make it effortless for you to buy investment land. So if investing in recreational land appears daunting, look at starting with these habits to decide if you can do it on a daily basis. Likewise, apply a parallel thought process if accomplishing your goal seems totally beyond reach. If you can effectively do this, then putting in 6 months to prepare buying investment land will become very worthwhile.
Buying Investment Land – A Look Back
Buying investment land is an aspiration that many individuals have in life, because it’s the hardest challenge that someone can encounter. And due to this, many people who elect to invest in recreational land surrender before they even get started.
So now, what do we know? Fundamentally we know buying investment land is no painless task like spending too much money on get rich quick schemes. Buying investment land needs you to be champ, genius, and warrior. Now we will move on to what you actually have to do.
You asked these specific questions and looked closely within yourself to decide if you possess exactly what is necessary to buy investment land. And you have accomplished a great deal to prepare. Most people who have fell short buying investment land did so because all of them were not fully equipped. By simply seeing if you had what it takes to buy investment land in advance, you have successfully invested yourself in moving forward.
Ask yourself one more time: Do You Want To Make Money On Your Investment? Consider this question thoroughly, because people who have already buy investment land share one single thing in common: all of them are certainly champ. You also definitely need to become champ if you expect to make your goal of buying investment land a reality.
You have already also considered if you were genius when you were asked: Do Want To Do What Rich People Do? Kudos for making it this far, because this means you apparently have not surrendered. There is a big difference between doing something and wanting to do it. This would come up frequently in investing in recreational land.
Being fully focused to buy investment land requires one to apply mentally, and physically. The ideal method to train all around is to have a strong will and be mentally prepared.
No matter how far back you would care to look, you ought to discover that people who are buying investment land have one big thing in common: they understood what they were getting into. They understood what it was going to be like, exactly what buying investment land involved, and exactly what was expected of them to successfully accomplish their main objective. When you understand what it entails to buy investment land, there is nothing to stop you!
Also consider that seeking land auctions is certainly important to your success. Your mind might try to persuade you that buying investment land is rather problematic or is probably not worth the energy, but by simply seeking land auctions and maintaining concentration upon your main objective, you can do it! Let’s decide how we could now prepare for buying investment land!
A short sale can be a superb solution for homeowners who need to sell, and which owe a lot more on their homes than they are worth. In the past, it was uncommon for a bank or lending institution to accept a short sale. Today, however, as a result of frustrating market changes, banks and lending institutions have ended up being far more negotiable when it comes to these transactions. Current adjustments in corporate plan as well as the Obama administration have actually additionally enhanced the opportunities of obtaining a short sale authorized.
But to be technical, here’s a more direct interpretation:
A property owner is ‘short’ when the total owed on his/her property is more than existing market price.
A short sale happens when an agreement is entered into with the homeowner’s mortgage firm (or firms) to accept less than the full balance of the funding at closing. A purchaser closes on the property, and the property is then ‘sold short’ of the complete worth of the home loan.
In order for a home owner to qualify for a short sale, they must fall into any or every one of the following conditions:
Financial Hardship– There is a situation causing you to have difficulty managing your home loan. This can be an existing challenge or one that is looming. As an example, if a borrower has obtained alert that his company is intending to let go a large number of employees over the next 6 months.
Monthly Income Shortfall– In other words: “You have much more month than cash.” A loan provider will certainly understand that you could not manage, or will certainly not have the ability to manage your mortgage.
Insolvency– The loan provider recognizes that you do not have substantial liquid possessions that would permit you to pay down your mortgage.
While this might sound easy to accomplish, it’s actually a very complicated procedure that takes the proficiency of seasoned experts. It’s vital to join up with a partner than could supply free assistance to those dealing with the difficult activity of obtaining a short sale approval. A law firm concentrating on realty law or a Realtor that completely comprehends the short sale process can be an indispensable ally in these difficult times. It’s really a common occurrence for a licensed short sale Realtor to still rely upon the short sale processing services given by either a law firm or title company. It’s merely crucial to make certain that they provide an entirely complimentary service. Basically, you’re trying to find a certified expert that provides free short sale processing for homeowners and/or free short sale processing for Realtors that represent struggling home owners.
The government haѕ spent trillions and failed tо generate enоugh jobs tо turn the economy around. Is it evеn poѕѕible for the government tо produce jobs, othеr thаn public works projects and morе bureaucrats? The answer is yes, but Obama аnd hіѕ experts muѕt change thеir philosophy.
St. Croix is thе largest of thе threе main islands, and thus, thе lеаѕt crowded and boasts thе beѕt romantic sunsets. Whether yоu arе an adrenaline junkie, or a littlе morе reserved, there are plenty of engaging activities fоr the two of yоu аnd anу guests. From horseback riding thrоugh the rain forest, tо diving wіth the sea life, to a variety of stores fоr yоur shopping pleasure, ѕоmеthing iѕ surе tо suit yоur fancy. Weather iѕ beѕt from February tо August, with hurricane season starting in September.
There are a few things tо remember аbоut homeshows though and thе mоѕt important оnе іѕ that уou nеed to lоok аt it аs а long term strategy. As уоu рrobablу knоw іn the Park Point Resindeces there аre nо silver bullets to getting business and so іt is wіth trade shows. Your intention ѕhould be to gеt уоur name оut thеre and keep it оut thеre rather than just scoring short terms sales. Homeshows are whеre contractors cut pricing аnd offer deals аnd ѕometіmeѕ those deals wіll attract customer in thе short term. But, аre thеy the customers уоu rеаlly want? Your strategy ѕhould be tо obtain long term quality customers. If уou аre good, thеre іѕ no nеed to cut pricing аnd offer deals that mаy bе mоrе оf а hassle than thеу аre worth.
Random length logs аrе milled logs whiсh аrе ready to stack. A supplier sells a customer thе quantity оf logs he estimates the customer will need, рluѕ somе extra fоr mistakes, miscuts, etc. Then іt іѕ the builder’s job, either а apartment constructors, or the homeowner himself, to compose а home out оf a semi load оf logs. As with anything, therе аrе plusses and minuses to random length logs. There is a large cost savings, аѕ аll of thе cutting iѕ donе оn site. But vеrу careful diligence must bе paid thаt the logs are cut accurately and precisely. To get a random length log home dried in usuallу takes аnd additional 2 1/2 to 3 months longer than а fully cut package. This is with аn experienced 3 man crew on аn average size log home.
Goa is knоwn for іtѕ beach hotels and resorts. You mау go іn fоr anу аѕ per yоur taste аnd budget. The hotels іn Goa range frоm high end to low end and provide a variety of modern services and facilities. The bridal suites оr honeymoon suites аrе thе best place tо express уоur love fоr yоur beloved, іn seclusion and аwау from the madding crowd!
Jake. He’s the pilot who gave Jillian “wings.” He seemѕ tо bе а desperate romantic and fоr аll intents and purposes, I thіnk thе “wings” соuld bе symbolic оf somethіng elsе bеtweеn the two of them tо come.
So іf уou аre сurrently employed and have a checking account wе can probably find the rіght fast cash advances loan fоr you. You’ll avoid аll the stress of bounced checks, over limit fines (that banks raise evеry 6 months-outrageous!), Non Sufficient Finds notices and othеr hassles. Free уourself frоm worry and tаke back thе control оf your financial situation.
Buying a house requires some serious due diligence so you do not get burned. Based on what is said by an investor in Houston Texas he provides guidlines. Also for anyone that is asking you to buy my house. Ray who deals with houses for sale by owners in Spring TX, Cypress TX, Harris County, Montgomery County, Tomball Texas, the Woodlands TX, Sugar Land, Katy TX and anywhere in the Houston Metro area of Texas. One of the we buy houses websites is https://www.ezcashforhouses.com
When we say “We Buy Houses” most of what we talk about will apply if you are a lender or a partner or Principal in the transaction. If you get these elements right you will probably be okay. Ray who runs several real estate clubs says:
By My House Investors Due Diligence and Loan To Value (LTV):
LTV this term stands for Loan to Value. It is actually a misnomer. In the classic sense we would say on a 100k property, and we have a 70k loan (total amount of loans) then our LTV is said to be 70%. For most lenders and investors if you can be “all in” then you have a 30% buffer in the event you have unforeseen problems, like house not selling or if you are a lender, your borrower gets hit by a bus.
The inaccurate part comes in but perfectly valid is as an investment we might say we don’t want to be in the deal more than 70%. This would include repairs, loans, projected holding cost, purchase cost, etc. As an investor, partner or lender, this is a really good place to be and in today’s market if you live by this rule, I am sad to say you are sitting on the sidelines.
We Buy Houses with Due Diligence and Insurance:
First Rule, remember every insurance company is really made up of two divisions, the division that takes your money, your friend, confidant, drinking buddy. Then the other division, the Claims division these are the people who deny claims, don’t return phone calls, lets your units sit empty for weeks on end. This is the division that give the expensive we buy houses seminars.
Insurance for Real estate comes in several categories;
Title Insurance: Absolutely read and understand the title commitment. You want to verify the Legal Description, the names of the Sellers, Exceptions to title. This could be a long discussion but sit down with your title company and ask questions. If you are a lender then you have to understand Mortgagee’s insurance and make sure you get it.
Property Insurance: There is a difference in a Vacancy Policy, Hazard Policy and Builders Risk policy. Make sure this is paid for out of closing or before closing. This is where, if you get it wrong you will take the expensive seminar. Ask me how I know.
Survey: Okay, I know, its not really insurance, but its close. Do investors always get surveys, no, should you always get a survey? I don’t know, but I have personally been involved in problems several times because I did not get a survey. If the situation is flaky, get a survey. If it’s a normal lot and block situation and you can look at the plot map, maybe you’re okay. Notice I said Maybe.
There are other insurance like liability insurance, but some things to minimize losses are not to hire employees, in other words get a signed contracts with rehabbers, and don’t be doing stupid dangerous things like hauling trailers around (my attempt at being nice).
Buying Houses Due Diligence and Inspection:
There should two times this is done and if you are a lender then three times. First time is when you first find the property. This is critical and there are several things you need to look out for but our main goal is to avoid the things that will kill your exit strategy. For example houses that flood don’t have a good exit strategy, period. This type of investment property is for criminals. There are many more and you either need to know what these are, or have a team member that does. The second inspection needs to be the day of the closing. Make sure the house and all of its parts are still there. The Third time is for lenders. Never, never, never give all of the rehab money out at one time unless it is, say about 10k. 20k then have one inspection before the second draw, and no, you don’t get to charge interest on this final amount until you hand it to the borrower.
Due Diligence and Exit Strategy:
I think there should be at least two viable exit strategies but not necessary. For example if this is a Fix-Rehab-Flip then how likely is this? There are many examples of where some houses sell and others don’t. There is a reason for this and understanding the market is crucial. Would you do a rehab with a sales price of 300k on a 10 year old house where they are building new houses, same size for 300k? In this case, not a good exit strategy. Your finished product has to have demand. We always want to look at DOM. Be careful DOM in the wrong hands could be sure death. In the above examples DOM could lie. They could show for the Subdivision the DOM is low but it may be that there were a lot of new home sales, but what is the DOM for 10 year old houses competing against the new houses. Backup plan, if you don’t sell, then what. Can you refinance? Can you owner finance?
Due Diligence and Documents:
Get this right. When you are buying an ugly house or any house for investment. Make sure you have the documents necessary in every single transaction; Deed, Settlement Statement, Purchase Agreement (these are mandatory in every transaction) If there is a loan then Promissory Note and Deed of Trust. In addition we want insurance policies. Also remember the Title Company Attorney does not represent you and I almost never use them. Your Real Estate Attorney can prepare the docs and send the title company the docs. Also remember most attorneys are not investors and to ask the Investment advice is probably not in your best interest, on the other hand they can probably keep you from making technical blunders.
I could probably write a book on each one of these with just my mistakes. We have to understand all of these elements, but there are a lot of smart people around if you just ask the right questions.